Braking Down The News

Lower Gasoline Prices Portend Higher Consumer Confidence, Affect Inflation

National average prices drop below $4 a gallon for the first time in five months

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Consumers are likely to travel and spend more because U.S. national gasoline prices have fallen for weeks, economists said, delivering an expected boost to the economy.

The average cost of a gallon of regular unleaded gasoline fell below $4 on Wednesday, according to energy data provider OPIS. That is well below the record high of $5.02 reached in mid-June but still about 80 cents a gallon higher than prices were a year ago.

 

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