Are lower gas prices really making a difference in your finances?

Jun 12, 2015, 5:47 PM | Updated: 5:47 pm
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This is the story that YOU wanted to hear us talk about! It received 43 percent of the vote in our Radioactive poll!

It’s hard not to notice the price of gas lately: With a national average price of $2.78 a gallon, consumers all around the nation have experienced the lowest gas prices since its 2014 peak.

But are these savings really affecting Americans’ finances? According to a recent Gallup poll, the answer is yes.

Fifty-seven percent of Americans said that lower gas prices are making a noticeable difference in their finances, while 27 percent said they have seen a significant difference in theirs.

The poll also found that the lower gas prices are not disproportionally helping middle- or lower-income Americans.

So what are most Americans doing with their savings? While some predicted back in 2014 that savings would help bolster the economy, about 42 percent of Americans said they are using their money to pay off bills.

As for the foreseeable future, analysts determined that gas prices will remain below $3 per gallon nationwide.

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Are lower gas prices really making a difference in your finances?