Gasoline Record Decline Blunting Romney Weapon: Energy Markets
This article is for subscribers only.
The longest losing streak for gasoline futures since trading began on the New York Mercantile Exchange in 1986 means that prices at the pump will continue dropping through the Nov. 6 presidential election, AAA says.
The 20 percent decline this month on the Nymex has translated into 14 straight days of declines for regular gasoline, according to AAA, the national largest motoring organization. For consumers, prices dropped 5.7 percent since Oct. 7 to an average $3.599 a gallon yesterday. They may fall to between $3.40 and $3.50 by Election Day, Michael Green, a Washington-based spokesman for AAA, said yesterday in an e-mail.