Gas, Good News | featured news

A sharp decline in the price of oil this month is making gasoline cheaper at a time of year when it typically gets more expensive. It's a relief to motorists and business owners and a positive development for the economy. Over the past three weeks, the price of oil has fallen by 9 percent to $89 a barrel.

U.S. retail sales rose in September as Americans bought more cars and gasoline, while a gauge of consumer spending pointed to stronger-than-expected economic growth in the third quarter.

The average price of a gallon of gasoline in the U.S. has dropped 15 cents over the past two weeks.

More Americans will hit the road this holiday weekend than a year ago. And they'll have a bit more money to spend thanks to lower gas prices....

What only weeks ago was seen as a serious threat to the economic recovery could now turn into a stimulus everyone can love. Oil and gasoline prices are sinking, giving relief to businesses and consumers who a few weeks ago seemed about to face the highest fuel prices ever.

The price of oil suffered its biggest one-day decline in nearly six months Friday, falling below $100 per barrel for the first time since February. A drop in gasoline prices can't be far behind.

The worst is over, for now. Gasoline prices are starting to fall. After a four-month surge pushed gasoline to nearly $4 per gallon in early April, drivers, politicians and economists worried that gasoline prices might soar past all-time highs, denting wallets, angering voters and dragging down an economy that is struggling to grow.

This year's surge in gas prices appears over, falling short of the record highs some had feared heading into peak summer driving season.

Consumer prices fell slightly more than expected in June to post their biggest drop in a year on weak gasoline costs, government data showed on Friday, pointing to a cooling in commodity-driven inflation pressures.

Oil prices plummeted by almost 9 percent on Thursday as traders worried that American drivers were beginning to balk at the price of gasoline.