What's New in the Financial World (10/22/2012)

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The hope that gasoline prices in the United States will drop finally has some support, based on recent numbers. The AAA Fuel Gauge report shows that the price for an average gallon of regular has fallen recently. Yesterday, that gallon cost $3.676, down from $3.794 a week ago and $3.833 a month ago. The price remains high enough that it may dent the consumer spending of many lower-income households, and some middle class ones. Much of the country still has to pay $4 a gallon, or nearly that much. Heavily populated states such as California, Connecticut and New York all fall within this range. For those who need to use premium gasoline, the national price average yesterday was $4.010. All of these prices are down a bit, but could still throttle activity as the critical holiday spending seasons starts.

Douglas A. McIntyre

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