Why gasoline prices could ease soon

Demand for oil has dropped, sending its price lower. Another factor: an expected slowing in the economy.

NEW YORK

Oil markets started to factor in some of these supply-and-demand dynamics last week: The price of crude oil fell below $70 a barrel on Thursday. (By Friday, however, it had inched back above $71 a barrel, following news about Iran and a tropical depression headed toward the Gulf of Mexico.)

Still, the lower prices are a good sign for consumers – and the price of the hydrocarbon could stabilize or drop more if, as widely expected, both the US and global economies grow at a slower pace for the rest of the year.

Christian Science Monitor