US petrol prices poised to go below US$2 a gallon

New York

WHO would have thought Opec could bear tidings of seasonal cheer?

US petrol pump prices are poised to drop below US$2 a gallon for the first time in more than six years, which is sure to bring comfort and joy to drivers. Oil has plunged by 39 per cent since June and may keep falling after the Organization of the Petroleum Exporting Countries essentially lifted the ceiling on its crude production.

Americans have saved about US$100 billion on fuel this year, which comes to more than US$350 a...

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