Gas Prices Take Yet Another Plunge

It seems like gas prices just won’t stop falling, after prices take another dip.

It’s some of the lowest prices we’ve seen in a decade.

Here in Fargo, people at the pump can find gas as low as $1.50 a gallon.

But the question is how low can these prices go?

Harold Ogden came to Fargo for a doctor’s appointment, but before he leaves he’s filling up.
 
“Fill up in Fargo whenever I can,” says Harold Ogden of Fergus Falls.
 
Ogden is enjoying the low prices and he’s going to enjoy them as long as they last.
 
“It’s going to be hard for them to go much lower because oil prices seem to be stabilizing and were going to enter that time of season where we generally see gasoline prices increasing,” says AAA Spokesman Gene LaDoucer.
 
LaDoucer expects prices to go up between 40 and 50 cents around mid-March, when it typically increases.

But only time will tell for sure.
 
“We’re seeing a glut of oil and it depends on what the oil prices do long term or gas prices go,” says LaDoucer.
 
“Many think low gas prices mean low airline prices. But many people aren’t seeing that at Hector International Airport.”
 
“Since the prices have started to drop on fuel we expected to see some of that fall over into the airlines,” says Terry Simmons of Knoxville, Tennessee.
 
But it’s just the opposite. In fact, fares recently increased and it looks like they’re staying that way.
 
“If people are paying it and they’re trying to make money,” says Executive Director of Hector International Airport, Shawn Dobberstein.
 
“Two years ago I would have really complained because I was flying every week,” says Simmons.
 
But fliers can still make use of the low gas prices.
 
“Are more people driving to an alternate airport to seek out lower fares that’s certainly possible,” says Dobberstein.
 
For now people at the pump are enjoying the savings.
 
“Go back to 2014 where the annual average was 3 dollars and 28 cents so when you’re talking averages in the low 2 dollar range that’s a significant savings for household budgets,” says LaDoucer.

Last year AAA found more than half of people said three dollars or more for gas would be considered expensive.

LaDoucer says if the survey was done today most people would say 2.50 is when it’s getting a little pricey.