Students react to drop in gas prices

Missouri has the third-lowest average gas price in the country.

By Rebecca Berg

Published Oct. 24, 2008

Freshman Sally Wyatt hasn't paid attention to gas prices since she arrived in Missouri this semester.

When she recently went home to Dallas, Texas, for a weekend trip, she was surprised to see gas prices nearly a dollar lower than when she had last been home.

"The last time I left home, in August, the prices were $3.90 and at one point above $4," Wyatt said. "I definitely felt pain at the pump because I was paying. When I went back last weekend, it was like $2.50 for gas. My jaw just dropped."

In spite of turbulent economic times, gas prices in Missouri and across the nation are at their lowest levels in nearly one year.

On Wednesday, AAA recorded an average gas price in Missouri of $2.50 for regular unleaded gasoline, the third-lowest average in the nation at time of publication. Oklahoma and Kansas rank first and second, respectively.

Mike Right, a spokesman for AAA Missouri, said the downward shift was attributable to a number of factors.

"Supply is in pretty good shape, demand is down in most parts of the world and in areas where there has been an increase in demand, that increase is slowing because of the general economic conditions in the world," Right said.

Right said people simply haven't been driving as far and as often as in previous months. In fact, every month in 2008 has shown a decrease in miles traveled by motorists in the U.S.

In total, this has added up to a 3 percent decrease in vehicle miles traveled for the year. The decrease in demand has led to excess oil supplies so significant the Organization of Petroleum Exporting Countries will meet on Friday to discuss a possible reduction in output.

Dan Musick, whose daughter Laura is an MU freshman, owns three gas stations in Marshall. Although he is accustomed to constant changes in the price of gasoline, he said he has found the current situation surprising.

"This is the fastest I've ever seen gas move," Musick said of the prices.

Musick said the sudden price shift was a simple lesson in supply and demand, but said he remained unsure.

"I don't know how long this is going to last, but I'm hoping this is not a political maneuver," Musick said, referring to the upcoming presidential election.

Right was also unsure of the direction in which gas prices were headed.

"Conditions are pretty good for these prices to hang around for awhile," he said. "But there are forces at work 24/7 to make sure they don't."

For the time being, MU students are enjoying the savings.

Freshman Will Bartels said he looks forward to being able to spend more freely now that gas is cheaper.

"I've been able to save money for other things so I can spend money on video games or something," Bartels said.

Wyatt, however, said she was less optimistic about the change in prices.

"The economy is so crazy right now, I just don't know what to expect," Wyatt said. "Anything can happen."