Cheap Gas Phase

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Cheap Gas Phase

By Syreeta Baker


This year the market has lost 8.3 trillion dollars.
That number could fund the city of Peoria's budget for the next 47 thousand years.

But it's not all bad...
This month is the first time since February that gas is under three dollars a gallon.

Where's the happiest place on earth...for some it's anywhere you can fill up for 2-89.

"As long as the prices keep going down I think everybody can make a living now," says Chris Highley.

A living this cab driver says was in jeopardy back when we spoke to him in March.
That's when gas was averaging around three-30 a gallon.

"The boss bought a bunch of newer cabs so who he's considerate about the drivers. And I think a lot more guys are making money now that we have smaller engine vehicles."

So here's the question that has Highley nervous.
How much longer will he be able to fill up for 2-89.

"Cheap gas prices will be short lived because the steps the government and the world are taking will be highly inflationary and as soon as we see any signs the economy is on the rebound will see those oil prices move back up," says Joe Stowell.

That future spike back up could put a stop to Highely's plans to lower his fares.

"If gas continues to go down I think will be lowering the meters back down to where they were."

In March the meters were at 2-10 a mile, but the constant fickleness at the pump has fares at 2-80.
A price Highely says as of now is probably here to stay.
In Peoria,
Syreeta Baker News 25.

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