The price of New York Harbor jet fuel closed today below $4/gallon. At $3.92 to be exact, down 10 cents.
Meanwhile, the price of oil was down to $129.29 at the close of trading today, down $5.31 on the day.
Another day, another day of demand questions, as more traders look at the potential of the one-two punch of a slowing economy both here and abroad, in addition to rising inflation.
One of those “good news, bad news” situations that Wall Street loves so much. The good news? Energy prices are falling. The bad news? They’re falling because more and more estimates of demand worldwide are being tempered because of more problems on the economic front.
But hey, we’ll take it.