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US gasoline prices may fall below $3/gal: Dow Jones

OIL PRODUCTS

US gasoline prices may fall below $3/gal during the Christmas period, according to Down Jones and OPIS.

  • "Falling gasoline prices will give people confidence that their fuel bill will be a nice surprise" as drivers take to the road for the holiday travel period, said Denton Cinquegrana, chief oil analyst at the Oil Price Information Service (OPIS), a Dow Jones company.
  • As Dec. 11, the average national price for regular unleaded gasoline stood at $3.153 a gallon, down from $3.242 a week ago, and down from $3.376 a month ago, according to AAA.
  • AAA said it expects 115.2 million domestic travellers to head 50 miles or more from home over the 10-day holiday travel period from Dec. 23-Jan. 1, a 2.2% increase on the year and the second highest year-end travel forecast since AAA’s records began in 2000.

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