U.S. drivers may get some near-term relief on gas prices heading into the Juneteenth holiday weekend as crude prices plunged to a three-week low in mid-day Friday trading amid ongoing concerns for a global recession.
Data from the AAA motor club indicated that U.S. gas prices eased from this week’s all-time high to a national average of around $5 per gallon for the first weekly decline in more than two months. Although small, the decline could portend bigger declines over the summer as oil prices slide in the face of uncertain demand, and a surging U.S. dollar, linked to the global economic slowdown.
