Gasoline Prices Could Fall to $2.99 Next Week

Crude oil prices declined on August 4 to their lowest prices since before Ukraine was invaded by Russia as the futures market indicated a possible recession that could dampen demand from consumers.

The U.S. oil benchmark WTI fell below $90 a barrel for the first time since the invasion began in February to $88 while Brent crude fell to $95 a barrel as RBOB, the futures market for gasoline, declined to $0.05.

The outlook for crude oil prices is difficult to predict, although the spread…

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