Oklahoma experts weigh in on gas, boycott social media trend


Oklahoma experts weighed in on a social media trend encouraging drivers to stop buying gas over the Fourth of July weekend.The group is campaigning for drivers not to fill up their tanks from July 3-5 with the hopes of lowering gas prices. However, experts said a three-day-long boycott won’t impact prices at all.”Yeah, probably not,” said Steve Agee, an economics professor at Oklahoma City University.Users are trying to create a movement in response to high gas prices.”It won’t have a lasting impact because those people who don’t buy it during that period of time will probably buy it a week later,” Agee said.Agee, an industry expert, said even a month-long boycott wouldn’t make a big impact.”That demand will resurface after the moratorium so I don’t expect that will have any measurable impact on the price of gasoline,” Agee said.Instead, he said a substantial change in gas prices would have to come from a long-term decrease in demand.”I think if consumers will reduce their demand based on substituting their cars or trucks to some alternative mode of transportation, that decrease in demand will ultimately bring prices back down,” Agee said.It could also occur from an increase in supply. “If American producers supply more or drill more that could help too,” Agee said.Agee said the pain at the pump will last all year despite any short-term boycotts.”That just rarely happens. People need gasoline and diesel to get around they just realize it’s a necessary good that they have to purchase,” Agee said.

Oklahoma experts weighed in on a social media trend encouraging drivers to stop buying gas over the Fourth of July weekend.

The group is campaigning for drivers not to fill up their tanks from July 3-5 with the hopes of lowering gas prices. However, experts said a three-day-long boycott won’t impact prices at all.

“Yeah, probably not,” said Steve Agee, an economics professor at Oklahoma City University.

Users are trying to create a movement in response to high gas prices.

“It won’t have a lasting impact because those people who don’t buy it during that period of time will probably buy it a week later,” Agee said.

Agee, an industry expert, said even a month-long boycott wouldn’t make a big impact.

“That demand will resurface after the moratorium so I don’t expect that will have any measurable impact on the price of gasoline,” Agee said.

Instead, he said a substantial change in gas prices would have to come from a long-term decrease in demand.

“I think if consumers will reduce their demand based on substituting their cars or trucks to some alternative mode of transportation, that decrease in demand will ultimately bring prices back down,” Agee said.

It could also occur from an increase in supply.

“If American producers supply more or drill more that could help too,” Agee said.

Agee said the pain at the pump will last all year despite any short-term boycotts.

“That just rarely happens. People need gasoline and diesel to get around they just realize it’s a necessary good that they have to purchase,” Agee said.



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