Gas Prices Stable

Gasoline prices have stopped falling, at least for a day. The AAA Fuel Gauge report showed the cost for a gallon of regular based on the national average was $3.802. That is statically flat with $3.803 the day before. The price is down from $3.826 a week ago and $3.928 a month ago when it was assumed the price would almost certainly top $4 this summer. Recent data show that the US economy continues to be in a period of modest growth.

The Iran sanction crisis was supposed to have gone away. But, famous economist Nouriel Roubini said there was likely to be a clash among Iran, Israel, and the US after the American elections. That, he forecasts, will cause a huge rise in oil prices, and the price of oil derivatives like gas. Then, the world may be thrown into a period of deep depression next years.

Of, perhaps there will be no war, the economies of Europe will fall more deeply into recession, and the GDP growth of China will slow. And, gas prices will drop toward $3.50.