The economic impact of the gas shortage
(ALBANY, GA) – As many in Georgia woke up to gas prices cresting above the three dollar mark, we spoke with one local economist about the ramifications of the gas shortage.”
Dr. Michael Rogers from Albany State University says the longer this shortage goes on, the higher that average price is going to get.
“It’s going to be impactful, the longer it goes on. Six to ten days, there may be a more severe shortage. But once that happens, the other oil companies start producing more gas,” says Dr. Rogers.
While many have been discouraged from panic-buying gas, creating further supply problems, including Demetrius Pringle from Cordele who’s left wondering how he’s going to be able to get to work.
“I’m very worried cause, my job is up the road, I travel every day, that’s more money out of my pockets trying to get to work on time,” says Pringle.
As Governor, Brian Kemp puts a hold on gas taxes across the state, many are still likely going to feel the pressure should they see a long line for the pumps.
Pringle tells us, “It’s messing things up for everybody really. Cause people are traveling, and if there ain’t no place for people to get gas at, it’s gonna be on a standstill pretty soon.”
However, there is a sense of optimism that the shortage could be over in the next few days.
Dr. Rogers says, “It’s just a matter of days in some areas, the pipeline is already back. In North Carolina I think, the pipeline is already back on, transferring gas throughout the state of North Carolina.”
The average gas price in Georgia at the end of Wednesday was two dollars and 95 cents a gallon.