Low gas prices cause economic ripple effect

LATHAM, N.Y. – Lower gas prices have caused a ripple effect of more spending in the local economy.

Oil prices dropped on Friday to their lowest level in five years. Oil is now less than $58 a barrel, and lower gas prices have a ripple effect on a family’s budget.

Lower gas prices mean bigger slices of business for Dom’s Pizza in Latham.

“A lot of the customers here come from families where both of the parents work, so if gas prices impact them, they’re not going out to eat,” worker Bubba Tague said.

But Tague said they’ve been getting more calls now from parents ordering pies on their way home from work. And lower prices are definitely helping the take-home pay for the delivery guys like Nick Miller.

Miller said he’s saving as much as $20 a night, so he’s going to use that extra money during the holiday season.

“Definitely, I’ll have more money in my pockets, so I’ll have more money to buy things with,” he said.

Lower fuel prices are also spreading holiday cheer for customers.

“You can travel,” Watervliet resident Robert Barron said. “You can visit family members that live in the area.”

Barron said gas prices have fallen enough that his daughter will drive from Texas for the holidays rather than fly giving her more flexibility with her travels.

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