Gas prices are falling in the Rockford region and they’ve come at the perfect time.
“I’m sure that will entice, perhaps, more trips to the mall or more trips during the holiday season. So it certainly should be a busy one on the nation’s roads,” says GasBuddy.com analyst Patrick DeHaan.
“It adds up, and it’s going to affect how they can spend over the holidays and improve the economy,” says motorist Rich Loring.
The Rockford area recently has seen a stark contrast from gas prices from 2014. Around this time last year, Rockford was 13 cents above the national average, but today they’re 8 cents below, and the prices should stay low though the holidays.
“It appears the low prices may stick around for a good portion of the rest of the year. Gas prices could spend more time under $2 dollars than over,” adds DeHaan.
Truck drivers are seeing the effects as well. Normally, it costs them upwards of $450 to fill up, but now it’s nearly half that.
“You’re only paying about $200 to $300, so its a $200-$300 dollar savings,” says truck driver, Danny Noble.
While it may not directly affect their bank accounts, truck drivers may get some added luxuries from the reduced prices.
“The drivers don’t see it, but the company sees it. So somewhere down the line, there’s new tires, new belts, new batteries. It all pays forward,” Noble says.
DeHaan says these low prices may even be extending into next year.
“It could be a very similar year to what we saw this year with gas prices, most of the time staying under $3 a gallon.”
Something that could certainly impact these prices going forward is Tuesday’s OPEC (Organization of Petroleum Exporting Countries) summit. They will be discussing various issues surrounding the oil business. DeHaan says as long as there are no surprises, the costs should remain low for the remainder of the year.