An overabundance of supply caused West Texas Intermediate Crude Oil and Gasoline prices to fall over the last three months.
The fuel business is holding steady after rebounding from a slow start.
Gas prices fell to their lowest monthly average last year in November, and are expected to continue to decline.
Pork market sizzles
This week, tensions eased between Syria and the United States as it looked like a Russian-brokered deal might lead to peaceful removal of chemical weapons. The potential for peace caused a sell-off in gold, crude oil, and related commodities.
After enjoying a few weeks of gas price declines, unsuspecting customers received sticker shock at local gas stations prior to the Independence Day holiday.
SCHERERVILLE | A 40-cent jump in retail gasoline prices within the last month is drawing ire among many Northwest Indiana residents.
Geopolitical tensions and strengthening global demand for energy will make retail fuel prices volatile in 2012, says one industry observer group. GasBuddy.com said the median price nationally for regular gas will approach $4 in May.
Geopolitical tensions and strengthening global demand for energy will make retail fuel prices extremely volatile in 2012, one petroleum industry observer group said Tuesday.
Corn prices reached $7 a bushel again this week, only the second time in history that prices have been this high.
One gasoline price watcher said he expects retail stations to boost prices in response to slimming margins and rising wholesale prices.
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