Courier

Media Credit: Chi Hong Wong Gas prices have dropped below two dollars.

With the holidays around the corner, and the country going through a recession, students are finding relief with the recent crisis at the gas pumps being over.

"I've gone from paying about $70 at the most the past month to now only $45. That's a big difference," said Jennifer Velera, English major.

The current economy, the decline of gas prices may be the only thing putting money back into people pockets. According to economic student Christopher Sefkice, with every $1 decline in the price of oil, consumers are able to save $1 billion.

"That's money I need to spend this Christmas and to buy books for the winter and spring semesters," said Sefkice.

AAA reported Tuesday's national average to be $1.69 for regular, a drop of two cents from the previous day's average, and a striking slump from last year's average of $3.03 on the same day.

"I know this all means things are really bad economically, but I'm not going to lie. I love how cheap gas and other things are becoming," said Andrew Ocampo, fashion major.

The last time the global oil prices took such a sharp decline was in the early 1980s and they stayed low for over a decade. Economists don't see the same thing happening this time, but do expect the prices to keep dropping within the next month, according to Mary Novak, managing director of Global Insight.

PCC student Cesar Acevedo expressed his delight with the lower gas prices and said, "I can afford a car wash now after I fill up my tank and can even get a Starbucks if I want!"

He explained how just two months ago he resorted to using money from his little sister's piggy bank and deprived himself of Starbucks because it was almost the price as a gallon of gas.

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