New York
AMERICAN consumers are going to enjoy a more bountiful Christmas this year, thanks in part to a most unlikely source: Saudi Arabia.
The steepening drop in gasoline prices in recent weeks - spurred by soaring domestic energy production and Saudi discounts for crude oil at a time of faltering global demand - is set to provide the US economy with a multibillion-dollar boost through the holiday season and beyond.
The windfall, experts say, comes at a critical moment, with the US economy on the upswing but facing headwinds from other quarters, including weaker exports because of slow growth overseas. Gas prices recently dropped below US$3 a gallon for the first time since 2010, while crude oil...
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