Oil Plunges Below $62 A Barrel

The fall in oil continues. In fact, it’s accelerating. Here’s a chart of October light sweet crude:

From AP:

“We’ll see sub-$2.25 a gallon retail (prices) by October,” said Tom Kloza, director of the Oil Price Information Service, adding that prices below $2 can already be found in Kansas, Missouri, South Carolina and other states.

At one point, oil got down to $61.58 a barrel from $63.80 yesterday. Ticker Sense notes the correlation between the price of oil and President Bush’s approval numbers.

Posted by Eddy Elfenbein on September 19th, 2006 at 2:56 pm

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