Consumer

Crude oil prices drop to lowest price since May

Published August 24, 2021 7:58 AM

(KYMA, KECY/ CNN) - On Monday, Triple-A reported that the price of crude oil went down $5 per barrel, closing out at roughly $62 per barrel.

That decrease makes crude oil dropping to its lowest level since May. This coming amid a decline in demand and a drop in the national average price for gasoline.

Investors fear that demand for crude oil will go down as Covid-19 infections around the world go up, which is bad news for oil investors but could spell good news for motorists driving gas prices lower.

Article Topic Follows: Consumer

Jump to comments ↓

CNN

Cole Johnson

Cole Johnson is News 11’s Sports Director.

Contact Cole at cole.johnson@kecytv.com.

BE PART OF THE CONVERSATION

KYMA KECY is committed to providing a forum for civil and constructive conversation.

Please keep your comments respectful and relevant. You can review our Community Guidelines by clicking here

If you would like to share a story idea, please submit it here.