The price drop may still figure in the consumer’s year-end activity. The fiscal cliff may cause consumer holiday spending caution. But for Americans who drive a great deal, the drop in gas prices could save several hundreds of dollars a year. And a price increase is unlikely for now. Trouble with Iran has moved off the front pages. More and more analysts believe that the shale boom in the United States and Canada could make America energy independent in a decade. And demand for oil has slackened because of economic slowdowns in China, Japan and Europe.
Douglas A. McIntyre