U.S. gasoline prices are heading south and may hit $3 a gallon in many places in coming weeks with crude oil futures down $10 a barrel over economic fears and eroding demand.
The drop in gasoline prices could benefit consumers and cool inflation. But it also may be a sign of economic weakness withBefore this week's drop, gasoline prices had posted a 7.4% jump in the third quarter, riding increases in crude oil futures after production cuts from Saudi Arabia, Russia and other OPEC+ members.
The four-week average of motor gasoline product supplied - a proxy for demand - averaged 8.3 million barrels a day, down 5% from the same period last year, the U.S. Energy Information Administration said on Wednesday.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Ethereum price dip extends, liquidates $10 million in long positions as exchange outflows skyrocketEthereum (ETH) price continues on its load-shedding exercise for the fourth consecutive day, forming a dome-shape as it loses all the ground covered d
Read more »
Sam Bankman-Fried stole at least $10 billion, prosecutors say in fraud trialFormer FTX employee and 'longtime' friend of Sam Bankman-Fried said he quit the crypto exchange after allegations that customer funds had been misused.
Read more »
Best Early Amazon Prime Day 2023 Deals Under $10Fill up your cart with al kinds of goodies under $10 for Amazon Prime Day 2023, part two \u2014 see our favorite picks
Read more »
Virtu blasts Michael Lewis book, saying it didn't lose $10 million with FTX'Going Infinite' claims Virtu Financial lost $10 million with FTX. A spokesperson for the trading firm says the information is false.
Read more »
Prosecutor opens trial for FTX founder Sam Bankman-Fried saying he stole at least $10 billionA prosecutor accused FTX founder Sam Bankman-Fried of stealing at least $10 billion from his customers for his own use as opening statements began in a federal court trial in New York City
Read more »
Prosecutor opens trial for FTX founder Sam Bankman-Fried saying he stole at least $10 billionA prosecutor accused FTX founder Sam Bankman-Fried of stealing at least $10 billion from his customers for his own use as opening statements began in a federal court trial in New York City
Read more »