US gasoline prices continue to fall
US gasoline prices continue to fall
US Gasoline prices have fallen again, based on the 2 Key important measures, and the fall continues.
The Lundberg Survey reported a drop of 7.26 cents in the past 2 wks to $3.4728. The cut off date for the data was 16 November.
The most carefully watched daily report from AAA Fuel Gauge showed a 1-day drop to $3.416 from $3.418. The price for a gallon of regular a month ago was $3.692.
Except for Hawaii, not 1 state still has regular above $4 gal
The price drop may still figure in the consumer’s year-end activity. The Fiscal Cliff may cause consumer holiday spending caution. But for Americans who drive a lot, the drop in gas prices could save several hundreds of dollars a year, another price increase is unlikely for now.
Trouble with Iran has moved off the front pages.
More and more analysts believe that the shale oil boom in the United States and Canada could make America energy independent in a decade. And demand for Crude Oil has slackened because of economic slowdowns in China, Japan and Europe.
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Paul A. Ebeling, Jnr.
Paul A. Ebeling, Jnr. writes and publishes The Red Roadmaster’s Technical Report on the US Major Market Indices, a weekly, highly-regarded financial market letter, read by opinion makers, business leaders and organizations around the world.
Paul A. Ebeling, Jnr has studied the global financial and stock markets since 1984, following a successful business career that included investment banking, and market and business analysis. He is a specialist in equities/commodities, and an accomplished chart reader who advises technicians with regard to Major Indices Resistance/Support Levels.
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