As Economies Slow, Price of Gas Falls

- October 5th, 2011

New York Times reported that the sharp drop in recent oil prices is beginning to bring relief at the gasoline pump, with the price of a gallon of regular gasoline plunging nearly a penny a day over the last four weeks.

New York Times reported that the sharp drop in recent oil prices is beginning to bring relief at the gasoline pump, with the price of a gallon of regular gasoline plunging nearly a penny a day over the last four weeks.

As quoted in the market news:

Gasoline cost an average of $3.41 nationwide on Tuesday, according to the AAA Daily Fuel Gauge Report, down from more than $4 a gallon in some states in May.

And with the global economy weakening further, prices for both oil and gasoline are likely to fall further in coming days, analysts say.

Click here to read the full New York Times report

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