In the futures market, gasoline for near-term delivery is down 6.6% this month and 13% below the last peak in March. It should be noted that it takes weeks before the drop in the futures markets show up at the gas pump. [Gasoline ETF Pullback Means Relief at the Pump]
“We feel quite confident saying that prices have peaked for the first half of 2012,” absent a fresh crisis,” Avery Ash, manager of regulatory affairs at AAA, said in the article.
U.S. Gasoline Fund
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Max Chen contributed to this article.