Drennen Quoted on Gas Price Drop – Hobart and William Smith Colleges \
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Drennen Quoted on Gas Price Drop

The drop in gasoline prices following Labor Day has raised suspicions about price gouging for the heavy travel weekend, but Associate Professor of Economics Tom Drennen said it was “supply and demand at work.”

“Gasoline demand falls as soon as the busy driving season ends,” said Drennen in the Sept. 5 issue of Florida Today. “Retail gas stations know that demand will be high during the last week of August, and therefore know that they can charge a bit more. But they also know that, after Labor Day, demand will slacken, consumers will shop around a bit more, and drive prices down.”

Drennen is the author of more than 20 publications that were produced in collaboration with various colleagues including “Who Will Fuel China?,” “The Kyoto Protocol and International Trade: the Carbon Loophole,” “Solar Power and Climate Change Policy in Developing Countries,” and “Agricultural Dimensions of Global Climate Change.”