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Listen: Market watch reporter Kathleen Burke has a look at what this ongoing cheap gas means

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Mario Tama
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Market watch reporter Kathleen Burke has a look at what this ongoing cheap gas means for us Katie take us through it two thousand sixteen as an opening with a greatly well oil prices and that that plummeted started a translates the price of the pump and and he doesn't the similar pattern a beginning in two thousand thirteen but consumers kind of out of the short term pattern where now starting to prove a little longer term and then those savings are starting at that yeah so add up how for example what we seeing so and be energy information administration estimated consumers saved up seven hundred dollars and get expenditures last year so starting campaign significant so wasn't it said that this for example average of seven hundred bucks AP average American driver saved wasn't spent like all on a lot of things like we stopped it away er paid off debt but have these savings continues to think we might change those patterns definitely an and an consumers tend to be more sensitive price increases on price be pieces and so they can I noticed that last what happens but what this longer-term pattern this many of Start Out as an people could spend more on discretionary items like oh you know movie is about happy eat I may be a talking away further tire meant instead of just putting up why toit's necessities having that they might not really noticed at the stating that he led and the timing really good I think if you point out to because wages seven exactly been growing much so good timing what the cheaper gas exactly it's they may not be getting in their paycheck but you could take a becoming aware budget who do like who does better for example people what the no higher-end a thee earning scale er lower end with this on governor lower income households fearless change more they hire income households world that and a pretty much spend whatever on gas no matter the prize just be having afford it but that lower income houses don't are in a sense of to price changes intended to kind of be much flexible and how much they drive on the important thing the Nobel is to not spend these savings on and something like an SUV and score the big ticket items that will require a lot of gasoline 'cause again no one really not gonna happen in the coming year the prices and you don't wanna be stuck hand paying prices you can afford in the long run with some times we have a short memory but that's the of away in exactly has killed with a gun up in the fall scary yup night explain to I thought this was interesting is some these Department of Transportation number two goes gases gotten cheaper were driving more guess what also what more accidents right Yeah and in two thousand fifteen and in the first half of two thousand thirteen there's a hundred and fifty two billion dollars in traffic damages become are cars on the road in a way that it twenty-four percent increase to two thousand fourteen so yesterday the downside to give are gas prices and people should that we be more aware went on the road it there are more cars out the estimate thinks Katy it's.