The Effects of Up and Down Gas Prices
It was nice while it lasted - gas prices down below $2 a gallon. These days, prices are headed back up, though only slightly above $2.
Dr. Matthew Ross, Western Michigan University assistant professor of finance and commercial law and a former oil industry engineer, tells The Richard Piet Show there are definite winners and losers when oil is cheap.
"There are some short term gains on the economy," Ross said. "It helps stretch the consumer dollar further."
Difficult as it may be to predict what pump prices will be, Ross said it appears oil will remain somewhere in the $50-60 range, which can translate to around $2 a gallon - depending on other factors.
Hear what those factors are and what influences them by clicking the player below.