Gas prices slashed in Oklahoma


Thursday, October 9th 2008, 11:40 pm
By: News 9


By Dave Jordan, NEWS 9

OKLAHOMA CITY -- Gas stations are slashing prices across the nation, but none like Oklahoma.

That seems to be the opinion of Triple AAA here in Oklahoma City and for drivers it couldn't happen soon or fast enough.

The decreasing prices have been a welcome sign for drivers all across the metro, gas prices dropping well below $3 a gallon.

"It's better," driver Marcetta Hankins said. "I'm glad to see it going down and I'd just like to see it go lower."

Hankins, like many drivers, is still hoping for a steeper decline.

"I think it can go at least $2.50," driver Joyce Johnson said.

The prices even took AAA's Chuck Mai by surprise. Mai has followed gas prices for more than 20 years.

"I've never seen this dramatic a drop," Mai said. "This is really unprecedented. Normally, the prices shoot up and come down very, very slowly."

According to Mai, the price has nowhere to go but down after oil shot up to $147 a barrel back in July.

"That was driven by speculators on Wall Street who went to oil and commodities. They went to oil as a hedge against the falling dollar," Mai said.

As gas prices soared, so did the cost of food, clothing and other goods. Companies were forced to increase prices to offset the cost of transportation.

"The cost of goods and services will certainly go down as drivers will appreciate a lower pump price," Mai said.

AAA advised those heading down to Dallas for the OU-Texas game this weekend to fill up in Oklahoma City first.

In Dallas, drivers will pay 45 cents more per gallon.