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Residents Rejoice At Lower Pump Prices
Can Lower Prices Last Longer Than Just This Winter?
POSTED: 4:30 pm EST November 10,
2008
UPDATED: 7:13 pm EST November 10,
2008
SAGINAW, Mich. -- While local prices at the pump continue to slide, bringing much jubilation to long and short distance commuters alike, many people are not keeping their hopes up that the relief is permanent.“I was getting to where I was only putting in half a tank at a time,” said Saginaw resident Paula Dasuqui. “But now, I can get a full tank of gas.”Dasuqui wears a smile when she fills her Oldsmobile Bravada with her gas discount card at $1.88 per gallon.Michigan AAA said gas prices have fallen 19 cents over the past week alone.
“It's just strange that it drops out for no reason,” said Nathan Brady, another Saginaw resident. “I mean, they went up quickly before -- who knows if they could again.”Meanwhile, some economists said the drop at the pump is a result of America’s financial struggles.Oil prices decline when the U.S. gasoline demand decreases.And with the global economic cool down and more supply coming online in the years ahead thanks to Brazil’s discovery of 50 to 90 billion barrels of oil off its eastern coast, prices at the pump should remain relatively low for the foreseeable future.
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