Drop in Gasoline Prices may be a Beneficial to US Economy

The Federal Reserve and Congress are unlikely to give any significant economic stimulus. However, gasoline stations might. The average gasoline price has declined by around 10%, or 40 cents, since it reached the peak level of $4 per gallon in the early parts of April. With the expected gasoline consumption of 133 billion gallons this 2012, the reduction of 40 cents can add up to around $53...
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Continuous Drop in Current Gasoline Prices caused by Crude Oil Price Decline

Over the last three weeks, the average gasoline price per gallon in the United States declined by 15.9 cents to $3.624. According to the Lundberg survey, the decrease is mainly caused by the fall of crude oil price due to concerns over the economy of Europe and a stronger dollar. Based on the survey conducted at about 2,500 continental U.S. gasoline stations, the average gasoline price as of...
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No Significant Change in Current Oil Price while awaiting for European Plans

Oil prices did not change much while the market waits for the next move from Europe to try fixing its financial challenges. In New York, the current crude oil price of the U.S. benchmark crude was higher by 2 cents, at $84 a barrel. In London, the Brent crude price fell by 5 cents to $98.80. Ministers of finance and central bank leaders in the seven richest countries of the world recently...
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Current Crude Oil Price Drops to New Low Level for the Year

The current crude oil prices fell to a new low level this year with rumors that Greece may leave the euro currency. In the NYMEX, the Benchmark WTI crude price dropped $1.35 to finish at $94 a barrel. That is the lowest rate since the 19th of December last year. On the ICE Futures exchange in London, Brent crude prices were lower by $1.61 to end at $110.65. Elsewhere in the energy markets, the...
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Gasoline Prices in Southeastern Parts of the US Drop

Refineries in the Gulf Coast are working at high volume and crude oil prices are becoming stable. These two factors cause gasoline prices to fall in the Southeast. The most recent average cost of gasoline in Anderson City is $3.56 per gallon. That is almost ten cents lower compared to the past couple of weeks. Moreover, the latest market data shows that the average in Greenville has fallen by 6...
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