TYLER, Texas (KETK) – Gas prices are falling at a time when many East Texans are struggling to make ends meet.

This means that people can save more than they thought they would while they Christmas shop this season.

“It’s wonderful that gas prices are so low at this time since its Christmas you’re spending money and on holiday and trying to see family,” Laura Parker, a Gallatin resident said.

With gas prices hitting a steep decline, some are concerned they will go back up.

“Just kind of feeling that they dropped it and somethings going to happen and it’s going to go back up,” Justine West, a Whitehouse resident said.

Raymond Woodward was a petroleum geologist for several years and explained there are many contributing factors to the decline in gas prices.

“First, demand has diminished, prices got too high, the best cure for high prices is high prices, gets too expensive and people quit using git, that helps. The supply side has improved a little bit and that helps,” Woodward said.

He thinks these prices could go both ways, either long-term or short-term.

“My best guess is that the price of gasoline will kind of hang close to where it maybe drifts downward even further,” Woodward said.

For now, East Texans are hopeful the prices will stay low.


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