In US gas prices sink below $1 a gallon - FT.com
November 21st, 2008 by Murali Venkatesh
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In US wholesale petrol prices slipped below the $1 a gallon level on Friday 21st, as commodity markets priced in a likely demand crunch amid forecasts for a prolonged global recession.
Nymex December RBOB unleaded gasoline touched a low of $0.9870 a gallon before rebounding to trade 0.03 cents higher at $1.0349 a gallon. In the previous session, petrol prices broke the $1 a gallon level for the first time since the current Nymex contract specification came into existence in 2006.
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