JUST IN: Gasoline prices dipped to just under the $4 mark for the first time in more than five months - good news for consumers who are struggling with high prices for many other essentials.
around the world. U.S. benchmark crude oil has recently dipped close to $90 a barrel from over $120 a barrel in June.
Ellen Wald, senior fellow at the Atlantic Council, told CBS News,"We have seen some of what we call 'demand destruction' — people choosing not to buy gasoline because it's so expensive. , fears we could be entering a global recession could be driving prices down." . Mr. Biden said over the weekend that a family with two cars is saving $100 a month because prices have dropped from their peak in mid-June."That's breathing room," he tweeted."And we're not letting up any time soon."
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