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 US 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 between WTI and Brent may widen further until there is some sort of resolution of the Russia-Ukraine conflict, Bernard Weinstein, a retired economics professor at Southern Methodist University in Dallas, told TheStreet.

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