The Norman Transcript
Norman — A steady price increase at the gasoline pumps is painful for any driver. But the cost has been steadily increasing in recent weeks and is harder on Oklahomans, a new report said.
The Tulsa World reports Oklahoma is fourth in vulnerability to gas prices. The report looks at 2009 prices and envisions a scenario where the per gallon cost spikes up to 2008 levels. Oklahomans spent 5.12 percent of their 2009 income on gasoline. If gasoline costs move to the summer of 2008’s levels near $4, the percentage would jump to more than 9 percent.
The report came from the Natural Resource Defense Council, an organization that wants to reduce dependence on crude oil, increase public transportation options and reduce carbon dioxide emissions.
Although it’s a bigger impact on income, gas prices in Oklahoma tend to be lower than those nationwide. The average price in Norman is less than $2.50 a gallon. Nationwide, it’s closer to $2.80 a gallon.
It didn’t hit for spring breaks but a spike to $3 or more a gallon by summer will cost drivers up to $300 million more spent at the pumps each day, the report indicates.
It’s a double-edged sword for Oklahomans. Higher prices hit family budgets but generally mean more drilling activity which translates to better employment prospects, higher gross production tax revenues and eventually income tax revenues.
