A Citizen’s Guide

It’s been quite a while since we updated the news about oil prices, so here’s a part of today’s noteworthy report from The Associated Press:

“Oil prices fell to five-month lows Thursday amid easing gasoline demand with the end of the summer driving season.

“Light, sweet crude for October delivery dropped 4 cents to US$67.46 a barrel in Asian electronic trading on the New York Mercantile Exchange.

“The contract fell Wednesday by US$1.10 to settle at US$67.50 a barrel—the lowest closing price for front-month futures since April 7.

“U.S. petroleum demand tends to fall after Labor Day, this past Monday, which traditionally marks the end of the summer driving season in the United States.

“In addition, easing concerns about the threat to supplies posed by the Iranian nuclear dispute and the Atlantic hurricane season have prompted crude oil prices to fall by about 12 percent in the past month.”