Lower Price At Pump Could Hurt Bakken Boom - ABC FOX Montana Local News, Weather, Sports KTMF | KWYB

Lower Price At Pump Could Hurt Bakken Boom

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Falling prices at the pump could actually hurt some people.

Crude oil prices hit a 52-week low Monday at just above $85 per barrel.

According to AAA, the average price of a gallon of gas in Montana is $3.30.

Economist and director of the Bureau of Business and Economic Research at the University of Montana Patrick Barkey chalks the decrease up to slowed economic growth worldwide while more sources of oil come online.

Barkey says this could deal a blow to the Bakken oil boom.

"It'll cause people to put off drilling additional holes, which is what provides a lot of employment over there. The mines that have already been developed will continue to produce," said Barkey.

Although it's hard to predict, Barkey says the downward trend in crude oil prices could continue.

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