Gas, U.s. Economy | 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.

Consumers have caught a break from the slowing economy as gasoline prices extended their steep three-month decline, but the cost of filling the tank may soon head back up, a widely followed survey said on Sunday.