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Gas Prices Drop Below $3; Crude Over $90

NEW YORK -- Gas prices fell below $3 a gallon Tuesday for the first time since Nov. 4, extending a trend that's expected to last through the heavily traveled Christmas and New Year's holidays, according to the Associated Press.

Oil futures, meanwhile, rose above $90 a barrel as traders anticipated the Federal Reserve will cut interest rates Tuesday afternoon. News that several crude oil pipelines in the Midwest were shut down due to ice storm also boosted crude prices.

Posted by Peter C. T. Elsworth  at 1:42 PM to Crude oil market , Gas prices | Permalink

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