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Gasoline prices drop a bit after months of increase
CommentsRetail gasoline prices retreated Monday for the first time in nearly two months, and benchmark crude prices tumbled about 4 percent.
The World Bank said the global economy would shrink more than previously stated, and burgeoning supplies of crude and gasoline finally appeared to grab hold of energy prices that since early May have appeared to shake off market fundamentals. Benchmark crude for July delivery dropped $2.62 to settle at $66.93 on the New York Mercantile Exchange.
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We welcome comments. Please keep them civil, short and to the point. ALL CAPS, spam, obscene, profane, abusive and off topic comments will be deleted. Repeat offenders will be blocked. Thanks for taking part — and abiding by these simple rules. A thorough explanation of rules of conduct can be found in our Terms of Service.
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