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Gasoline Prices Begin Their Seasonal Decline

October 22, 2012 by   - () Leave a Comment

This chart, courtesy of AAA, shows the average price per gallon of gasoline in the U.S. Prices are the lowest they’ve been since August.

And just like that, gasoline prices have begun to tumble.

U.S. drivers are finally seeing relief at the gas pump. The nationwide average for a gallon of gas fell nearly 5 cents over the weekend to $3.665. That’s the lowest price since early August.

The price of oil was falling today too (Oct. 22), tracking the small declines in U.S. stocks, the Associated Press reported.

Benchmark oil fell 60 cents to $89.45 a barrel in midday trading in New York. The contract fell $2.05 to end at $90.05 per barrel on Friday.

In London Brent crude fell 28 cents to $109.86 on the ICE Futures exchange.

 

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