Will low gas prices help recovery from recession?

It's amazing that more hasn't been written about this. The effect of lower gas prices for many families that only months ago spent over $600 a month and are now saving hundreds per month is significant unlike the recent pitiful government handout of about $600 for the entire year.

In my case, my monthly nut has decreased by over $1000 per month due to lower gas prices and a reduction in my tied to prime mortgage payment.

This is big money, folks.

A recession buster for some, sure. But there are folks are in a bad situation because of poor choices they have made. I won't speculate what those are, but come on, we all know people who have lived outside their means and unfortunately are having difficulties because of it. Saving money on gas will only enable them to continue their habits.

However for some like me, I live comfortably. I rent, and my gas budget has gone from about $400 a month to about $200 (I do drive a little more now that gas is cheaper). What do I do with that $200? Bank it. I'm sure gas will be at a minimum of $3 this summer, and it will ease some of the pain.

I'm dissapointed that it took me as long as it did to learn the lesson in this case, and sad as it is, many folks still haven't.

Whos the moron that wrote this piece
the gas prices are one of the reasons
were in this mess. Must people that buy a house have a hard time paying for it.Well
when fuel prices triple and elec bills double and taxs go up where do you keep getting this money from something has to
give. fuel is the one major key to getting out of this mess if it does not stay low were are doomed

I managed to find a better job much closer to home back in July, so the gas price decrease didn't affect me much.

"With OPEC countries and Russia watching their national deficits rise as oil falls, there could be another huge production cut by the cartel early next year."

Yeah, right. Nothing is quite so dependable as two OPEC members agreeing that a third member should cut production. The glut is going to be here for at least another 3 months, because that's the amount of excess oil currently in storage. Also, OPEC controls 40% of the world's oil, not 100%, which limits the damage they can do.

With the pinch in oil income, there is guaranteed to be some 'cheating', because the "oil teat" works both ways. I hope that the US can adopt policies to reduce our imported oil consumption by 40% or more over the next few years. Let the countries that hate us eat sand, and wash it down with oil.

I think the gas prices scare off people from buying cars, traveling, and going out and spending in general. which is a big cause of the failing economy. Paired with the raise in utilities,etc it makes it all a bad combo

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