From Reuters: U.S. gas prices fall to lowest in more than six years: survey
U.S. gasoline prices dropped by 4 cents to $2.06 a gallon on average in the past two weeks to the lowest in more than six years, according to a Lundberg survey released on Sunday.
The price, for regular grade as of Friday, was the lowest since $2.05 in April 2009 …
According to Gasbuddy.com, average national regular gasoline prices today are now under $2.00 per gallon. And prices should fall further over the next few weeks (based on the recent decline in oil prices).
Weekend:
• Schedule for Week of December 20th
• Lawler: “Yes, Houston will have a problem next year”
• Existing Home Sales: Expect a Miss
• Goldman Sachs on Fed Funds rate: “Fairly easy path to a second hike in March”
From CNBC: Pre-Market Data and Bloomberg futures: currently S&P futures are up 2 and DOW futures are up 20 (fair value).
Oil prices were down over the last week with WTI futures at $34.66 per barrel and Brent at $36.88 per barrel. A year ago, WTI was at $57, and Brent was at $59 – so prices are down almost 40% year-over-year.
Here is a graph from Gasbuddy.com for nationwide gasoline prices. Nationally prices are at close to $1.99 per gallon (down about $0.40 per gallon from a year ago). Gasoline prices are now at the lowest level since the financial crisis.