Rubin Talks with WABI About Ripple Effect of Low Gas Prices

Jonathan Rubin, a professor of resource economics and policy at the University of Maine, spoke with WABI (Channel 5) for a report about low gas prices and how it affects the average consumer. “We all rejoice when we go to the pump now, right? We’re paying about two bucks a gallon, which is about half of what it was just a year ago,” Rubin said. “So if you’re cutting that cost in half, the savings are going to be hundreds, maybe four or five hundred dollars would be what a family is going to see in savings. It’s real savings.” He also warned that the low cost may not last. “We probably are close to the bottom of prices, and we would expect them to rise,” Rubin said.