Oil Price Plunge Leads to Falling Gas Prices

Oil Price Plunge Leads to Falling Gas Prices

Oil Price Plunge Leads to Falling Gas Prices

A bidding war between two gas stations in Houston let motorists drive away with a win after prices dropped below 80 cents per gallon.

OPEC's move to cut its production helped oil prices initially, but then United States companies ramped up production and supplies.

Prices could drop up to a dime per gallon over the next few weeks.

For the first since time November, crude oil prices traded under $50 per barrel.

Gurgaon Court Convicts 31, Acquits 117 In 2012 Maruti Factory Unrest Case
Before the verdict, several unions had warned that they would protest a decision against the workers. His charred body was identified by a tooth implant. "The stand of Maruti is vindicated".

The fact that this has happened again highlights the shale industry's revival that was kickstarted at the end of past year, after an OPEC agreement with another 11 producers saw prices jump to the mid-$50s and stay there, although they fell short of reaching the much more desired $60 level.

Just 16 states saw average gas prices rise versus last week, with Utah leading gainers with a rise of 8 cents. Modesto- $2.80/g, up 3.6 cents per gallon from last week's $2.77/g.

Drivers across the USA paid an average of $2.30 per gallon.

"A sudden plunge in the price of oil is likely to weigh on gas prices, at least temporarily", said Patrick DeHaan, senior petroleum analyst for GasBuddy.com. Costs are slightly lower in Western New York, with Buffalo's average at $2.41 per gallon.

ANOTHER Taylor Swift Stalker Has Been Arrested! Get The Scary Deets!
In addition, he also called Swift's management company 59 times between January 27 and February 16, trying to connect with her. Swift's friend Gigi Hadid had her own stalker scare in 2015 at her NY property.

While gasoline demand has been sluggish so far this year, it rose 7 percent last week, according to the Energy Information Agency (EIA).

Bradenton-Sarasota-Venice's average was $2.245 a month ago.

In metro Albany, drivers were paying $2.113 Monday, also down a half-penny in a week and seven-tenths of a cent more than February 13. Georgia drivers past year were paying about $1.875, while metro Albany motorists were paying $1.87.

The national average was $2.298, down from $2.312 a month ago.

Watch Out, Amazon: Google Eyes the Cloud as its Next Frontier
Some 10,000 people were expected to attend the sold-out conference, five times last year's first formal cloud show. Noting that HSBC is early in its cloud journey, he said it's not ready yet to completely to the cloud.

DeHaan said he remains optimistic that the annual spring rally at the pump could be less severe than expected, but added that is remains hard to know where the new path will lead oil prices in the week ahead.

Related news