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Re: uranium-pinto-beans post# 222936

Thursday, 12/18/2014 1:11:39 PM

Thursday, December 18, 2014 1:11:39 PM

Post# of 363133
This year's holiday cheer may be fueled by cheap gas.
Indeed, U.S. retail gasoline prices have dropped below $2.50 a gallon, on average -- their lowest since 2009. And by the time Christmas rolls around, the cost to fuel up could be at a six-year low, travel and leisure group AAA said Thursday.
Thursday's national average of $2.48 a gallon is the cheapest since Oct. 10, 2009 , AAA said.
Prices are expected to keep on falling to catch up with lower crude prices in recent weeks.
There's usually a lag of one or two weeks between commodity prices and prices at the pump. Crude's rebound this week was under threat Thursday, with West Texas Intermediate (CLF5), the U.S. benchmark, suffering a mid-session tumble.
"Americans packing up their cars to visit friends and family likely will pay the lowest Christmas gas prices since 2008. It is even possible that some drivers could ring in the New Year with gas prices more than 20 cents per gallon cheaper than today," said Michael Green , a AAA spokesman.
Nearly 99 million U.S. residents will travel 50 miles or more during the holiday season, with 91% traveling by car. The number of people traveling during this year's holiday is expected to be 4% higher than last year's.
Some argue, however, argue that cheaper prices at the pump may not result in more Americans driving.
Gasoline prices are down $1.22 since reaching $3.70 a gallon in late April, the highest for the year so far. The national average price is 74 cents cheaper than a year ago.
And if you're hunting for the cheapest gas in the nation: Missouri boasts the cheapest average state gas prices ($2.15) , with Springfield, Mo. , touting the cheapest metro-area price at $2.01 per gallon AAA said. Other cheap states include Oklahoma ($2.21) , Texas ($2.26) , Mississippi ($2.28) , and South Carolina ($2.30) .
Gasoline futures prices have fallen more than 16% this month, mirroring a similar plunge for crude futures prices.
Concerns about lackluster demand amid plentiful supplies have been pressuring crude since the summer. Selling intensified, however, in late November after the Organization of the Petroleum Exporting Countries decided to stand pat on production, choosing to preserve market share rather than halting a price slide.
Crude oil has fallen by nearly 50% since a peak in June.
The price declines are widely viewed as a boon for regular folks So far that's been the case, with a substantial decline in the consumer price index -- the largest in six years -- attributed to oil's plunge.

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