Sliding crude
oil prices are giving consumers relief at
the pump, which is bound to provide a fillip for consumer spending. But whether
that is good news for the stock market is another story. Crude oil futures have
been demolished over the last four months, falling some 17 percent from their
June highs, and settling at a 17-month low on Friday.
And as oil
prices have fallen, consumer gasoline prices have dropped to a nationwide
average of USD 3.32 a gallon, the lowest since February . The motor club group
also notes that in 26 states, gas can be found for cheaper than USD 3.00 per
gallon. We expected that gas prices will
continue to fall in October.
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