$10-a-barrel oil price plunge should bring relief at gas pump

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What a difference a year makes. Gas prices are projected to fall over the coming weeks thanks to renewed recession fears, analysts say. Last year at this time, prices were skyrocketing amid supply …

Ron Hurtibise | South Florida Sun SentinelHigh-profile bank failures sent stock market and crude oil prices plunging last week amid renewed concerns that a global recession could be taking shape.

Oil prices fell 17% over the past two weeks and oil futures were trading on Monday at their lowest prices since December 2021.weekly Gas Price Brief, on Monday a gallon of unleaded regular cost $3.44 nationwide, AAA statistics showed. As oil prices fell last week, gas prices increased in some parts of the country, including Florida, because of annual refinery maintenance and high springtime demand, AAA said. But gasoline futures — which reflect what traders believe gas will be selling for in the weeks to come — dropped 24 cents over the past two weeks.

 

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