Hobart and William Smith Colleges

20 February 2003 Drennen and Patterson 03 Quoted on Gas Prices

Assistant Professor of Economics Thomas Drennen and Todd Patterson, a member of the Hobart Class of 2003, were both quoted in the article Gas prices at record highs locally from the Feb. 19 Finger Lakes Times. Drennen said he predicted three months ago that the price for unleaded would cap off at about $1.70 per gallon, and now that it has reached that price, he believes that it will level off. He predicted that local prices will drop by about 10 to 15 cents per gallon over the remainder of the winter and into the spring, regardless of whether the United States goes to war with Iraq.

Patterson traded in his gas-guzzling SUV for a sedan, but said he has to pay nearly $2 per gallon now, because the used car doesnt seem to accelerate well on anything but super unleaded. With his studies and volunteer work, and trips to New York City to see his fiancee, Patterson doesnt have the time for a job, he said. Its going to greatly affect the number of times I go down there (to New York), Patterson said.