For the seventeenth week since July 4th, retail gas prices fell as crude oil saw its lowest price in twenty months. While the national average at the pump is at $2.22, some Americans saw prices approaching $1.50. The average price per gallon has fallen more than thirty percent in the last thirty days. Meanwhile, on the NYME, light sweet crude for December delivery has fallen to $59.40 a barrel, and continues to trade erratically. A report from the International Energy Agency is expected in just two days’ time, which many experts predict will cut its forecast for 2009 oil demand for the third-straight month.
Let us hear your thoughts below: