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Dropping like a rock — beware of falling gas prices

from Convenience Store Decisions

Just under $2.50 gallon is where the U.S. gasoline futures market found support during the second week of September amid a massive selloff in domestic and global crude oil prices, with lower trending oil battered by bearish readings for forward oil demand by the three major forecasters. Oil prices were already trekking down on growing global oil supply even as Saudi Arabia cut output by 400,000 bpd in August from 10 million bpd, with crude production in the U.S. setting a fresh 28-year high last month at 8.6 million bpd per data from the Energy Information Administration. more


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