John Potter
Channel 2 News
If you're happy about falling gas prices, imagine how excited Victor Honein is. He's been feeling the heat from customers at his downtown Carson City ARCO for months. "They don't like it basically. They come in, and they try to blame anybody. They blame us, they blame the companies." Some even throw their money at him. But for the first time in months, Victor's about to make an unusual change on his big board...downward. He can barely remember the last time he dropped the price. "Eh...what...was it 3 and a half months ago?"
No false hope here...gas is about to get quite a bit cheaper, as forces come together for a price plunge. Oil tumbled 15% last week, the biggest weekly drop in 2 and a half years...back under $100 a barrel, and headed for $60 to $70 according to some experts. U.S. demand is down as high prices had drivers cutting back. The Middle East is quieting down. And gasoline stockpiles are high, reducing inflated speculation from investors.
It could all soon spell the end of $4+ a gallon gas. That's a long time coming for folks like Ed Dusenberry. We watched as he spent over $88 filling up his pickup truck. And that's nothing compared to the truck he makes his living with...Ed's a truck driver. "When I fill it up it takes about 160 gallons. I never let it drop below a half tank. That's up to $800."
Yes some relief is on the way, and just in time for summer vacation too. Some analysts say to expect a drop of 50 cents a gallon come June. It may not be enough to bring some cheers from folks who remember gas under $3 last year, but a few more smiles at the pumps. At that Carson City ARCO, Carol Harris said "We're going to be going on a trip come late June, I'll be happy about that."
More importantly, it all adds up to a well-needed shot in the arm for Nevada's economy...taking some pressure off struggling consumers as well as businesses. Especially for our biggest industry, the one that depends on tourists to drive over that hill.
