Published On Dec 10, 2024, 2:21 PM
Gas prices in the U.S. have fallen to a three-year low, with the national average now at $3.01 per gallon. Experts suggest that prices may dip below $3 soon, with the lowest prices reported in states like Oklahoma, Texas, and Mississippi. However, a modest increase in prices is expected around the holidays, with a more noticeable rise anticipated in mid-February as seasonal demand increases.
Positive
The falling gas prices could result in increased consumer spending in other areas due to lower transportation costs. This might positively affect sectors such as retail and consumer discretionary.
Negative
Lower gas prices can negatively impact companies in the energy sector, particularly those involved in oil extraction and refining. Companies reliant on higher gas prices for profitability may see downward pressure on their stock prices.
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