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Energy

Gas Prices Continue Decline

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By Douglas A. McIntyre Published
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Gas prices continued to slip, but that may not last long. Oil has reversed its sell-off. According to AAA Fuel Gauge, a gallon of regular based on the average price across the country was $3.816, down from $3.819 the day before, $3.858 a week ago, and $3.925 a month ago. The optimism that the Federal Reserve showed last week was not undermined by a modest first quarter GDP data. Retail sales continue to be relatively strong, as is the purchase of automobiles. Car sales are expected to hit a four year high when figures are released on the first of May.

An Energy Information Administration report from last week showed U.S. oil supplies increased by 4 million barrels. But, WTI crude still trades above $104, and the prices has recently rallied to a four week high. Some of the credit has to go to the lingering worry that political problems and the tension over Iran weapon construction will not disappear entirely. April unemployment is about to be announced. That will help set the price of crude for at least several days afterward.

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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