Gas price slide will boost Bay Area consumer spending

Gas price slide will boost Bay Area consumer spending

Contra Costa Times | January 12, 2015 | by Pete Carey

Bay Area drivers are already celebrating the recent collapse in oil prices, but if it lasts it will have broader economic implications, putting billions of dollars a year directly into the wallets of residents and helping to stimulate the region’s already robust economy. …Oil prices have plummeted to about $50 a barrel since they peaked above $115 in June, as petroleum from hydraulic fracturing flows onto the market from U.S. wells.

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