Low gas prices could still mean economic downturn - Toledo News Now, News, Weather, Sports, Toledo, OH

Low gas prices could still mean economic downturn

Mary Loera Mary Loera

Report by Tanieya Lewis

TOLEDO, OH (WTOL) - Gas prices have been on the downswing, but our economy may still be headed in the same direction.

According to local economists, the savings are a mixed blessing.

Cash has been flowing back into the hands of many drivers as they filled their tanks, but the chair of the University of Toledo's finance department says low prices could be a signal of a worldwide economic downturn.

"I hope they do keep coming down and they stay down. I hope it's not just a rush for us to come out and fill up. You think that things are going the right way and go back the other way," driver Mary Loera told WTOL.

When consumers tighten their belts prices eventually drop, and with less business to do, there's less need of a workforce.

You know what comes next. But despite these predictions, it's too early to tell what the low prices really mean.

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