WABASH VALLEY (WTHI) — Most people love to see the price of gas drop.
“I prefer it when it’s down and usually I try to but it when it’s down,” Hester Morris, who was pumping gas in Terre Haute said.
She said seeing prices below $2 is a sight for sore eyes.
But, for some when gas prices drop more money gets taken out of their pocket.
“Folks who are most harmed by low oil prices in the United States are those that work in the oil fields,” Robert Guell, Economics Professor at Indiana State University said.
He said about 70 years ago America would have wanted lower oil prices because we were only buying it from other countries. Now, we’re selling it too.
Meaning when the price of oil goes down America loses more money and more people lose their jobs.
“Me and my gas guzzler vehicle that I own are really quite happy with $1.88 gas,” Guell said. “Somebody who’s putting bread on the table as a result of their job in the oil fields, not so much.”