After dropping for most of the month, gas prices are now lower in much of the U.S. than they were a year ago, possibly part of a larger decline in that could lift consumer confidence ahead of the summer driving season.
Oil prices fell below $93 a barrel Monday in Asia as investors mulled whether slowing global economic growth justified a surge in crude this month. Benchmark crude for December delivery was down 79 cents at $92.53 a barrel at late afternoon Singapore time in electronic trading on the New York Mercantile Exchange. The contract fell 64 cents to settle at $93.32 in New York on Friday.
The mid-Atlantic region, hard hit last winter, will catch a break from the weather next time, says the Farmer's Almanac, but much of the rest of the U.S. will be colder than normal, New England in particular. For those who heat their homes with oil, however, lower prices should ease the season.