The Hawkeye

Low gas prices send student spirits soaring

Josh Dean

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From a national average of over three dollars last year to just under two dollars and thirty cents at the start of 2015, gas prices have taken a nose dive.

There is an alternate side to this overall good story and that is the effect of these low prices on the oil and gas workers of Louisiana and other oil producing states of the US.

Elissa Murillo fears that this may mean that many will be out of work.

“My old boss’ husband was laid off due to the cuts in the oil and gas industry,” said Murillo, senior atmospheric science major.

Prices within the oil sector have dropped due to several factors according to the Economist and BBC News.

Prices per barrel of oil have fallen from over $120 per barrel to less than $40 just within the last year. Demand from countries such as China and India has also fallen as China enters the beginning of what could be a recession.

Fracking and increased production from Western countries such as the US has also led to decreased prices.

Lower prices at the pump can lead to a lot of saved dollars, and these can really add up when you’re a student going through college according to Grant Garland.

“Lower gas prices have helped my family and I so much over these past few months. I drive to ULM from South Carolina and having the gas prices as low as they have been have at least saved my family $200,” said Garland, senior atmospheric science major.

According to Garland, his car also gets 36 mpg. Garland said he is thankful for the gas prices but also concerned.

“I wonder if this is the calm before the storm,” Garland said.

Lindsey Fontenot said that she tries to “pinch a penny” wherever she can.

“Recently I have noticed the changing gas prices around my hometown and ULM. It’s really great to see I only have to spend $20 on a full tank of gas,” said Fontenot, senior speech pathology major.

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The Student News Site of University of Louisiana Monroe
Low gas prices send student spirits soaring