US gasoline prices end the streak of the 100 -day decrease

Business | Tuesday, September 20, 2022 at 11:38 PM

The fall in fuel costs has recently helped moderate general inflation, but the effect may be decreasing.

While gas prices in the United States remain higher than it was for several years before the recent tip, the drop below $ 4 per gallon in August was considered a political victory for Mr. Biden , which was under pressure to tame obstinately high inflation, and released oil from strategic reserves, urged oil producing countries to pump more raw and reprimanded oil companies for what it considered it. The president and his assistants made a big deal of the recent drop in gas prices, one of the light points of the last inflation report, which showed an uncomfortably rapid price increase for a range of other goods and services . "I would consider a price resumption in the coming weeks," said Allen Good, actions analyst in Morningstar. It expects the "remaining" gas "gas prices, between $ 3.50 and $ 4 the gallon in the coming months, he said. Recently, the daily drop in gas prices has slowed down tiny increases, just fractions of one penny. The term exchanges suggest that investors expect the prices of oil and gasoline to continue to derive over the next year, but these products are volatile and subject to global economic and political forces: prices can Go up as quickly as they dropped. One of the factors recently reducing demand has been that people modify their driving habits in response to high prices, which could change again if prices are registered. Gotopnews.com

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#US gasoline #Prices streak #100 day #Decrease