Mexican Media Brands
U.S. Oil Prices Drop Below $50
America's benchmark price for crude oil futures dropped to $49.77 per barrel on Monday the lowest since April 2009 before closing just above $50.
#economics
Share
America's benchmark price for crude oil futures dropped to $49.77 per barrel on Monday the lowest since April 2009 before closing just above $50. Brent crude, the global standard, dropped 6% to close at $53.11.
Current prices compare with more than $107 per barrel six months ago. Citigroup estimates the lower price of crude is the equivalent of a $1.6 trillion economic stimulus for the global economy, since lower fuel prices leave consumers with more cash to spend elsewhere.
The average price of gasoline in the U.S. began the week at $2.20 per gallon compared with $3.32 a year ago, according to the AAA Daily Fuel Gauge Report. The U.S. Energy Information Agency expects fuel prices to remain close to $2.50 per gallon through 2015.
RELATED CONTENT
-
Inside Ford
On this edition of “Autoline After Hours” Joann Muller, Detroit bureau chief for Forbes, provides insights into what she’s learned about Ford, insights that are amplified on the show by our other panelists, Stephanie Brinley, principal analyst at IHS Markit who specializes in the auto industry, and Todd Lassa, Detroit Bureau Chief for Automobile.
-
GM’s Mobility Vision
1. Zero crashes 2. Zero emissions 3. Zero congestion This vision leaves out a very important element: economics.
-
On Urban Transport, the Jeep Grand Wagoneer, Lamborghini and more
Why electric pods may be the future of urban transport, the amazing Jeep Grand Wagoneer, Lamborghini is a green pioneer, LMC on capacity utilization, an aluminum study gives the nod to. . .aluminum, and why McLaren is working with TUMI.