Gas prices plunge just in time for summer - WAOW - Newsline 9, Wausau News, Weather, Sports

Gas prices plunge just in time for summer


It's that time of year, the summer road trip. If you are packing up the family and hitting the road it might not cost as much as you thought.

"It makes a difference, anything you can get a little cheaper," Wausau resident Mike Ortschead said as he was filling up his truck.

Gas prices across the country have steadily fallen. The national average is $3.53 per gallon. In our area, the price is a little higher at $3.62 per gallon. But, experts say those numbers will keep dropping.

"With the demand and supply conditions the way they are there's likely to be more downward pressure on prices," Chief economist Randy Cray said.

So, what's behind the drop? Cray says people have cut back on driving, resulting in less demand for gas.

"On the supply side there are no major disruptions to inventory so supply is going upward," Cray explained.

Combine that with the falling price of oil, and there's less pain at the pump.

"That's pretty big when you're driving something like this and only get 14, 15 miles to the gallon," Ortschead said.

Less money spent at the pump, means more money spent on other things, like fun.

"It will positively impact our businesses because more people will have the money to spend," Communications Director for the Stevens Point Area Visitors and Convention Bureau Melissa Sabel said.

Last year, the city brought in almost 100 million in tourism dollars. THis year, they hope for a repeat. 

"Hopefully, businesses will see an increase and supply funnel for tourism dollars," Sabel said.

So whether it's a summer road trip, or a long commute to work, chances are this summer you'll save a few bucks.

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