Gas prices on the drop after summer high

By Michael Paolucci
November 8, 2001

photo by Maria Chambers

If by students seem to be carrying around extra change lately, there is a good reason why. Gas prices have dropped significantly in the past two months and for some, it is a welcomed change.

Students at Cabrini have also taken notice of the recent price drop. “I do notice that when I get gas I’m spending less money,” Will Nagle, sophomore, said. Since most college students are short on cash, any way to save money is a good thing.

According to industry analyst Trilby Lundberg, the fall in gas prices is due to low crude oil prices and decreased demand since the Sept. 11 tragedy. People are traveling less, causing the supply to be greater than the demand.

There is an OPEC meeting next week and if they do not decide to cut production then prices could continue to drop. The nation could also see a skyrocket in oil prices if the situation in the Middle East escalates and oil production is reduced.

With the hype about falling gas prices, students might be wondering who has the cheapest gas in the area. As of Monday, Nov. 5, the Amoco on Lancaster Avenue in Wayne was selling regular unleaded gas for $1.21 per gallon, which is four cents cheaper than the Sunoco across the street.

Economic analysts are debating what will happen to oil prices in the future. As for right now, enjoy the cheap gas because it might not be around for long.Price per gallon at local stations

(regular unleaded):
Amoco $1.21

Sunoco $1.25

Coastal $1.25

Amoco (Bryn Mawr) $1.27

Getty $1.29

Citgo $1.43

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Michael Paolucci

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