Oil, gas prices on the rise before Christmas, could drop in January
Oil prices are hovering at the $89.51 a barrel price. In recent weeks it has dropped below $86 a barrel for sweet crude. With oil prices below $100 a barrel, prices at the pump have declined steadily from $4 a gallon last summer.
What lies ahead in the new year?
“Bank of America Merrill Lynch says U.S. oil prices could drop to $50 a barrel if problems arise moving all the new production out of the middle of the country,” a CNN Money report noted.
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