Shirley wrote: ↑Sat Sep 14, 2024 3:56 pm U.S. gasoline prices poised to drop below $3/gallon ahead of election, analysts say
Sep. 13, 2024 8:45 PM ET
Analysts say U.S. motorists may see gasoline prices fall below $3/gal for the first time in more than three years as soon as next month, shortly before the November election.
The national average price for regular gasoline was $3.23/gal on Friday, down $0.21 from a month ago and $0.62 from a year ago, according to data from AAA.
The average should break below $3/gal by late October and perhaps sooner, with summer driving season over and retailers starting to sell cheaper winter-grade fuel in the coming weeks, GasBuddy.com's Patrick De Haan said, as reported by Reuters.
Studies by the Wells Fargo Investment Institute show U.S. presidential approval ratings are inversely tied to gasoline prices, so according to the theory, falling prices should help Democrats in this election cycle.
Energy (NYSEARCA:XLE) was the week's only negative performer among the 11 S&P sectors, with the Energy Select Sector SPDR Fund ETF finishing -0.5%.
I am paying $2.74 a gallon at the station I normally use.