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08/15/2008 07:49 AM

 

Highs and Lows of Gas August 7, 2008 ECO Staff – Eric Johnson, student journalist For the past few months, gas prices have been rising and falling dramatically both locally and across the United States. With gas prices recently stretching to their lowest mark for the summer, is there a possibility they will rise once again? As most drivers already know, a few of the highest prices seen for gasoline have been during summer holidays, such as Memorial Day and the Fourth of July. According to CNN, during the Memorial Day holiday, average gas prices rose to $3.951, a high at the time and continued to forge ahead through the Fourth of July holiday with prices rising up to $4.068. Our most recent low hit on August 5th with prices of $3.852, a decrease for a twentieth consecutive day, leading many to ask, are the summer holidays tied with increased gas prices or is the high summer gas prices just a wallet-eating economic trend? For drivers out in California and other western states it is wallet-eating summer trend as average gasoline prices have rose from a $4.16 a gallon average at the end of May to a $4.19 a gallon statewide average on August 5th.  On the other hand, drivers in Pennsylvania have seen a decrease from $3.95 a gallon to $3.85 a gallon during the same period of time, making it possible to point the finger at the summer holidays as reason for the price spike. More locally, in Ellwood City, gas prices have followed the state norm and have fallen recently, more slowly than some expected. “The price of gas is dropping but slower than when it went up,” a Barry’s Service Station employee said. The employee of Barry’s also explains that local gas businesses and demand are returning back to normal. “When gas prices lower, gas stations become leveled out and business return back to normal,” the employee said. Being sure that everyone is enjoying the lower gas prices, it’s hard to plan on them to be this low for much longer. With hopes of gas prices lowering 10 cents-a-month, it is not a promised gift.