STREAMING NOW: Watch Now

Gas prices and the economy

Gas prices and the economy

Posted: Jan. 22, 2019 10:23 PM
Updated: Jan. 22, 2019 10:23 PM

Speech to Text for Gas prices and the economy

Below is the closed-captioning text associated with this video. Since this uses automated speech to text spelling and grammar may not be accurate.

your wallets may have found relief at the gas pump. but experts say that's not so good for the economy. good evening and welcome to news 10 on my fox 10. over the past couple of days...people in the wabash valley have seen a range of gas prices. but news 10's sarah lehman found...it comes with a cost. she's live right now on the south side of terre haute. she joins us now with more on the long term effect of gas prices. patrece... a lot of people have been topping off their gas tanks the past few days. even if they don't need to. gas prices have been lower then two dollars across the wabash valley. making you and your wallet very happy. but it could be negatively effecting the economy. < most people love to see the prices of gas drop. "i prefer it when it's down and usually i try to buy it when it's down." hester morrice says seeing prices below 2 dollars is a sight for sore eyes. "sarah: we love it for our wallets right? morrice: you better believe it!" 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 is a professor of economics at indiana state university. he says about 70 years ago, america would have wanted lower gas prices, because we were only buying it from other countries now, we are also selling it. 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 really quite happy with dollar eighty eight gas. somenbody whose putting bread on the table as a result oftheir job as an oil field worker not so much." > guell says right now we're in a transition phase of realizing we're a seller. when gas prices drop our economy is effected as well. but unfortunately for your wallet and fortunately for those working oil rigs... gas prices did jump back up to well over two dollars a gallon overnight. reporting live in terre haute sarah lehman news 10 back to you. . a suspected
Terre Haute
Overcast
61° wxIcon
Hi: 64° Lo: 41°
Feels Like: 61°
Robinson
Overcast
64° wxIcon
Hi: 65° Lo: 41°
Feels Like: 64°
Indianapolis
Overcast
60° wxIcon
Hi: 68° Lo: 42°
Feels Like: 60°
Rockville
Overcast
61° wxIcon
Hi: 64° Lo: 40°
Feels Like: 61°
Casey
Overcast
61° wxIcon
Hi: 63° Lo: 40°
Feels Like: 61°
Brazil
Overcast
61° wxIcon
Hi: 64° Lo: 40°
Feels Like: 61°
Marshall
Overcast
61° wxIcon
Hi: 64° Lo: 41°
Feels Like: 61°
Showers and storms with heavy rain.
WTHI Planner
WTHI Temps
WTHI Radar

WTHI Events