by Bill McBride on 12/20/2015 07:19:00 PM
Sunday, December 20, 2015
U.S. gasoline prices dropped by 4 cents to $2.06 a gallon on average in the past two weeks to the lowest in more than six years, according to a Lundberg survey released on Sunday.According to Gasbuddy.com, average national regular gasoline prices today are now under $2.00 per gallon. And prices should fall further over the next few weeks (based on the recent decline in oil prices).
The price, for regular grade as of Friday, was the lowest since $2.05 in April 2009 ...
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From CNBC: Pre-Market Data and Bloomberg futures: currently S&P futures are up 2 and DOW futures are up 20 (fair value).
Oil prices were down over the last week with WTI futures at $34.66 per barrel and Brent at $36.88 per barrel. A year ago, WTI was at $57, and Brent was at $59 - so prices are down almost 40% year-over-year.
Here is a graph from Gasbuddy.com for nationwide gasoline prices. Nationally prices are at close to $1.99 per gallon (down about $0.40 per gallon from a year ago). Gasoline prices are now at the lowest level since the financial crisis.
Posted by Bill McBride on 12/20/2015 07:19:00 PM