Return of $2 Gas Seen for Some in U.S. as OPEC Stands Pat
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For the first time in five years, $2 gasoline is making a comeback in some areas of the U.S., just in time for the Dec. 25 Christmas holiday.
Retail stations scattered across the U.S. South and Midwest are about 20 cents shy of the $2-a-gallon mark. In New York, gasoline futures slid more than 13 cents Nov. 27 after OPEC failed to cut oil production to stem a glut. That decline alone could drag down pump prices by as much as 20 cents a gallon, Michael Green, a spokesman for the Heathrow, Florida-based motoring club AAA, said yesterday by phone.