Gas Prices Fall Marking 7-Month Low

By: Rashi Vats Email
By: Rashi Vats Email

Memorial Day Weekend is wrapping up for many folks, but drivers are seeing some good news at the pump.

The price of crude oil hit a seven month low this week.

CBS is reporting that because things are relatively calm in the Middle East, the focus is now on Europe which is facing cutbacks. The demand there is low and that helps the price of crude oil.

But not everyone is happy.
"It's ridiculous but you have to do what you have to do,” said Monte Teague, a Houston resident who was filling up his tank at a gas station in College Station.

Teague has an idea that could help drivers from emptying out their pockets when filling up.

"Drill domestically offshore. East coast, Gulf of Mexico, west coast, and get the government out of the oil business and drill. That's what needs to happen,” said Teague.

Seth Starbuck also has a plan to save money that he has tested himself.

"I used to drive a Camaro, and I spent a lot of money on gas. I just filled up at .8 of a gallon and this will go 60 miles,” said Starbuck who drives a motorcycle.

He says the money he saves on gas helps him pay for the motorcycle.

Trends indicate gas prices typically peak in the summer, but if the current trend of falling prices continues, this summer could be different.

CBS reports that any Middle East flare-ups could send prices soaring.

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