Nation sees silver lining in an economic storm
1:20 p.m. Friday, October 10, 2008
From New Jersey to Kansas to Texas, the price of gas has plummeted in just four months.
Drivers see it at the pump and in their pocketbook.
"I couldn't hardly keep my car on the road. I wanted to get some gas," one motorist said.
If gas stayed at the summer price of $4 a gallon, the average family would spend about $4,800 a year filling up.
At today's prices, they'd save more than $700.
Diesel prices are dropping too which means the savings could stretch well beyond the gas station to the grocery store.
"The cost of delivering the goods, such as food to the supermarket or items to the mall, is going down so the consumer should see lower prices there as well," Oil Analyst Andy Lipow said.
The tough times have sparked a toy war. Wal-Mart is now selling some of their most popular toys for $10. Target countered with price matching. Then KB Toys upped the ante, cutting the price of 200 toys.
But it's not just fun and games. Some studies found that an unhealthy economy can be surprisingly good for your health.
"When times are good, and I have a lot of income, I go out to eat. Maybe I'm drinking more. I would be smoking more. Times are bad I cut back on all those things," economist Dr. Christopher Ruhm said.
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