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

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Ramin Talaie
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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 incredibly well oil prices and that that plummeted started a translates the price of the pump and and they started the similar pattern a beginning in two thousand thirteen but consumers Kennesaw that in 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 they that seven hundred dollars and get expenditures last year so starting some pretty 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 to price increases on price be patience so they can I noticed that last what happens but what this longer-term pattern this money effect of an people could spend more on discretionary items like oh you know really is about happy he by maybe it's shocking away further tire meant instead of just putting up why twice necessities having that they might have not really noticed at the stating that he lived 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 they could become and tell me about that who do like who does better for example people what the on the higher-end a thee earnings scale er lower end with this on double lower income households fearless change more they hire income household slope that tended pretty much spend whatever on gas no matter the prize just because they go for that but that lower income houses don't buy offensive I mean to price changes intended to kind of be much flexible and how much they drive on the important thing the no though 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 notes gonna happen in the coming year the prices and you don't wanna be stock pain and paying prices we can't afford a long running for some times we've a short memory but that's the total way and that really has killed with a gun up in the fall scary Nogard explain to I thought this was interesting is some these Department of Transportation number two goes gases gotten cheaper were driving more but guess what also what more accidents right yeah in two thousand fifteen and then the first habit of two thousand thirteen there's a hundred and fifty two billion dollars and traffic damages become are cars on the road it they would say twenty-four percent increase to two thousand fourteen un sell 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 accident thanks Katy it's.