Residents in Pike County have received a pleasant holiday surprise over the last week as gas prices at the pump have fallen substantially.

 

While the average gas price in the United States remains over $3 per gallon at $3.22, gas stations around Troy routinely had gas for less than $3 per gallon.

 

Pike County’s average gas price on Friday was much lower than even Alabama’s average. Around the state, Alabama residents could expect to pay an average of $3.09 per gallon

 

It’s something that Pike County residents are thankful for.

 

Jamie and Dawn Adams of Goshen said the drop in prices has made their wallets a little heavier around the holidays. “We commute in to work from Goshen everyday, so gas can get expensive,” Jamie Adams said. “An extra five bucks a week adds up over time.”

 

Dawn agreed with her husband. “Our gas has gotten move expensive over the past few years,” Adams said. “The money we spend on gas has doubled in the past five years.”

 

Despite the drop in gas prices, the Adams don’t see themselves traveling much over the holidays. “We probably won’t go much further than Troy,” Jamie Adams said. “We used to go to Georgia for the holidays when we had family out there. It was about a six-hour drive—300 or 320 miles. It’s too expensive now.”

 

Mamie Norman of Winter Haven, Fla. said the drop in gas prices will probably increase her spending over the holidays. “I’ll probably spend more on my grandyoungins now,” Norman said. “I might go out to eat a little more. It’ll make you spend money on other things. I’m not a big spender though. It will just help me ride a little more”

 

Norman said she loves being in Troy where the gas is cheap. “Going to Florida ain’t going to help my wallet none,” Norman said. “I brag n Alabama gas to my friends in Florida all the time. If it keeps up like this, I’m going to stay in y’all’s town.”

 

Gas prices have fallen steadily since 2008 when Alabama saw it’s all-time high average of $4.09. Economists credit the decline in price to a number of factors. Foremost is the falling price of crude oil. Gasoline is processed from crude oil, so, as the price of crude oil falls, so does the price in gasoline. Tensions in the Middle East have kept the price of crude oil relatively high, but as the region has pacified, prices have come down. In addition, more fuel-efficient cars have led to Americans demanding less gas. This decrease in demand has been accompanied by a decrease in price.

 

Economists hope the drop in gas prices will increase non-essential spending amongst Americans. As the amount that consumers spend on essential items, such as gas and housing, decreases, economists expect the amount consumers spend on non-essential items, such as gifts and entertainment, to increase.

 

This influx of cash may help to boost the American economy, which has stagnated over the past few days as the stock market fell over the past week.