Low fuel prices may offset tough economy for many
By Joe Johnson jjohnson@HanfordSentinel.com
With gas prices increasingly on the decline, many Hanford residents questioned on Monday said that the hurting economy would not prevent them from traveling during the holidays. "We go down to Los Angeles every year to see my wife's family," local resident Richard Ackley said while filling his tank. "Our finances won't really change that."
Nancy Kinkaid, interviewed at the Shell station on 11th Avenue, said that money being tight wasn't enough to change her holiday plans.
"We'll just have to make do," she said.
Oil companies are hoping that lower prices will mean more people at the pump, but admit that it is still too early to tell whether or not consumers are reacting favorably to the cuts.
"Lower gas prices are definitely helping consumers, what with the economic slowdown," said Bill Day, director of Media Relations for the Valero Energy Corporation. "Any reduction in fuel prices is going to act like an economic stimulus. What Valero and companies like Valero are hoping is that with lower prices, there will be a resurgence in demand."
The drop in price is reportedly helping gas station retailers by bringing in more customers who in turn buy more products, but is hurting businesses on the refining side, according to Day.
Of course, many drivers aren't too concerned about the oil companies.
"I'm just happy that it doesn't cost me $50 to fill up anymore," college student Andrew Tate said.
But not everybody will be jumping in the car this holiday season.
Amtrak is expecting a record turnout of Thanksgiving riders this year, to the point of adding additional train cars to three of their major state routes beginning Wednesday and lasting through Sunday.
"We are anticipating a record ridership week this year," Amtrak spokesperson Vernae Graham said. "We are expecting a 65 percent increase over last year's numbers, which would mean around 128,000 people riding nationwide."
Since the rise and subsequent fall of gas prices over the summer, trains across the country have shown record passenger numbers, according to Amtrak officials.
"Every Thanksgiving we surpass the previous year and we don't expect that to change at all this week," Graham said.
But while many people hit the road, suitcases in hand, some will be having a simpler holiday this year.
"We're just going to eat turkey at home," Bakersfield resident Carlos Vasquez said. "We don't need anything fancy."
The reporter can be reached at 583-2425.
(Nov. 25, 2008)
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