Oil Prices Fall; Gas May Soon Follow

YouNews™

Story Published: Jul 17, 2008 at 4:35 PM MST

Story Updated: Nov 20, 2008 at 11:19 PM MST

By Nate Eaton

IDAHO FALLS - For the first time in more than a month, oil prices have fallen below 130 dollars a barrel.

Gas prices were at their lowest this year in February when the price of oil was around 88 dollars a barrel. Since then, they've continued to climb.

Now, as the price of oil drops, consumers may have some good news.

Gas Consumer: "I am excited. It's about time."

"good idea for everybody."

When people hear gas prices may be going down, they're relieved and pretty happy.

Gas Consumer: "Hallelujah. It's about time."

Thursday, oil prices fell to 122 dollars a barrel. That's the third drop in three days and that could mean good news at the pump.

Dave Carlson, AAA Idaho: "It could suggest that we are heading in a different direction and a good one."

A year ago, Idahoans were paying as low at 2.30 a gallon...that's when oil was about $55 a barrel.

Since then, prices have skyrocketed and everyone is ready for a drop.

Consumer: "I know a lot of people with trucks that are having a hard time."

Consumer: "It's a pretty penny to pay out of the pocket."

Consumer: "It affects everything. You have to be careful how much groceries you get now because you have to use your car."

Current Weather

Current Temp 42 °F

Overcast

Video

More Weather

Current Weather

More Weather

YouNews

This content requires the latest Adobe Flash Player and a browser with JavaScript enabled. Click here for a free download of the latest Adobe Flash Player.