An Early Holiday Gift: Lower Gas Prices

Gas Pumps

Falling oil and gasoline prices should deliver an early Christmas present to holiday shoppers and the economy in coming weeks, lifting consumption by a few billion dollars a month, economists say.

At the same time, sliding crude prices will hobble a resurgent U.S. oil industry, analysts say, but that will only partly offset the overall benefits for the economy.

“It’s going to put more money in consumers’ (pocketbooks) to spend on other goods and services,” economist Chris Lafakis of Moody’s analytics says.    MORE

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