Subject: Want to know why "governance" is "kicking" in?
Date: Saturday, May. 07, 2011
Gas price to drop as oil joins commodities plunge
By JONATHAN FAHEY and CHRIS KAHN
AP Energy Writers
Posted: Friday, May. 06, 2011
NEW YORK Investors finally hit the brakes on oil, gold, silver and food prices. This week's sharp sell-off doesn't mean commodity prices' stunning rise over the last several months is over, but it is good news for anyone planning a road trip this summer.
Oil prices fell 15 percent this week, the steepest decline in two and a half years, just as average U.S. pump prices were approaching $4 a gallon. Gasoline prices fell imperceptibly to consumers' eyes Friday - one-tenth of a penny to just over $3.98 per gallon - but that ended a 44-day streak of rising prices. Prices will soon drop noticeably and some analysts said they could hit $3.50 by summer.
Analysts say investors got nervous that oil, metals and grains had risen over the past few months to unrealistic heights. Their rush to sell also knocked silver prices down 28 percent, sugar down 13 percent and natural gas down 10 percent.
The most common reason given by analysts for the sell-off was the strengthening U.S. dollar.
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