Gas Prices Dropping: Good or Bad? Lately gas prices have been dropping rapidly , but a big debate going on is whether this is a good or bad thing. Gas prices dropping, like most things has it’s pros and cons. The first two articles are both informing us on the effects of gas prices dropping. The first article is telling us all the positive effects of gas prices dropping while article is telling us all the negative effects.
Thanh Truong writes in her article about how lowering gas prices is good for consumers.
With the gas prices dropping many americans have more disposable income to use on a variety of various things, some of which are resturants, malls, and many other places helping the economy. “Lowering gas prices will also reduce the prices of many consumer goods since there are lower production and shipping costs, which will cause the stock market to go up”
(Thanh Truong). It will also help the auto industry, since there are lower gas prices, americans are more likely to buy new cars or upgrade their cars with all the disposable income in their pocket.
…show more content…
Lowering gas prices may seem good for consumers but is quite the opposite for people that work in the oil industry. Patrick Reddy writes that for the first time in five years, the price of a barrel of oil went below $50. Lowering gas prices is hurting the oil industry and is causing a big sell-off in energy stocks, and has caused a dip in the markets. Lower gas prices may seem good now, but Patrick Reddy states that lower gas prices means “a possibility that federal gas tax will increase in the future.” (Patrick