Gas prices have fallen by almost a dollar per gallon in the past month and announced major additions to the U.S. natural gas and crude oil reserves may send the price down even further, experts say.

On Sept. 26, the Energy Information Administration reported additions to the U.S. natural gas and crude oil proved reserves.

The reserves have replaced 164 percent of the 2005 dry natural gas production and 122 percent of the 2005 crude oil productions.

Proved reserves are reserves that can be expected to produce when tapped, or needed.

“It would be able to be reached if proven,” said EIA analyst Steve Grape.

The reserves need to be drilled within five to 10 years, or they can’t be proved by definition, Grape said.

“Generally, they are expected to be produced under current technical and economic conditions,” said John Wood, director of the EIA’s reserves and production division.

Economics professor Khan Mohabbat said the two resources’ prices are complementary.

“As one goes up, the other goes up. As one goes down, the other goes down,” Mohabbat said. “When oil prices were up, natural gas prices were way up.”

The knowledge of these reserves has the potential to lower the cost drivers pay at the pump.

“[This fact] makes it seem more likely we will have an adequate supply [that will presumably] lower prices of oil and gas,” Wood said.

Wood said the crude oil prices are set in an international market. The United States can influence but not control the prices.

Alan Edrinn is the energy beat reporter for the Northern Star.