Rupright said Alaskans are intensely attuned to the price of oil because of the simple fact that they live in an oil-producing state.
"We have no state income tax," said Rupright, explaining that the state is dependent on revenue related to oil exploration and production. "When the price of oil goes down, there's less money in state coffers."
That makes the price of oil a double-edged sword for Alaskans.
"When price of oil goes up, state revenue goes up but the cost of living increases too. Everyone talks about it. We wonder why we're not doing more exploration here."
Sandy McClintock, director of communications for the United Way of Anchorage, said additional costs from gas and energy prices could adversely affect residents barely surviving as is. Last year, callers to Alaska's health and services phone number, 211, increased by 50 percent, according to McClintock. She said many of those calls were from first time callers seeking assistance for basic needs such as rent assistance and food.
"We know there are families that make tough choices," McClintock said. "It can be either food on table, gas for work, rent or mortgage, or paying the utility bill. It's a tough balancing act."
ABC News' Zunaira Zaki contributed to this report