Gas prices are low. It’s a dream come true.

Those at OPEC remarked that never again will we see $100 a barrel oil prices; so, Americans may enjoy these lower prices for some time. People are ecstatic about this change. However, the gas prices drop has left many people wondering why and how this is the case.

“This gas drop has saved me so much money. I don’t know how it got like this, but I’m glad it did,” said Maggie Ford, senior at Freedom High School.

Gas prices have dropped since June, and there are many reasons behind it. It may be because of the demand for crude oil is dropping.

When the demand for global crude oil declines, our gas prices seem to follow the trend. According to Bankrate.com – prices for crude oil barrels are said to decrease by 23 percent from 2014, these saving have been passed on to drivers.

“I’m glad that there has been a decrease in the demand. I’m sure there are negative effects somehow, but as of right now I’m pretty satisfied,” said Tammy Evans, a driver here in Tampa Palms.

Another reason could be that the domestic oil production has been increasing yearly since 2008, including the new drilling in the Gulf of Mexico.

This increase in U.S oil supply has had a part in pushing the gas prices lower and lower. The Gulf of Mexico’s recent weather is also allowing the drop to pursue. The Gulf contains much oil that some argue is needed for America. We can thank Mother Nature for that one. The oil demand could also be taking hits from the recession in Japan and Europe.

“The new gas prices are amazing! I hope they will continue to drop so I can continue to fill my gas tank,” said Edward Cortes, driver in here in Tampa Palms.

Throughout the rest of this year gas prices are said to continue to decrease.

FSA Connection Questions:

1. List reasons why gas prices have dropped according to the article.
2. What is the authors claim?
3. What does the word “recession” mean in the story?
4. What does the word ‘crude oil’ mean?
5. Select one sentence that supports the main idea.