Local gas prices affecting East Texans' Social Security benefits - KTRE.com | Lufkin and Nacogdoches, Texas

Local gas prices affecting East Texans' Social Security benefits

Source: KTRE Staff Source: KTRE Staff
Source: KTRE Staff Source: KTRE Staff
LUFKIN, TX (KTRE) -

For just the third time in 40 years, millions of Social Security recipients can expect no increase in benefits next year.

The reason? 

The country's gas prices have continued to drop.

The low price at the pump has had no effect on the annual cost-of-living adjustment, which means no increase for Social Security recipients like disabled veterans and federal retirees.

This has happened only twice - in 2010 and 2011.

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