How the Saudis embarrassed Biden over oil prices
As Americans confront high inflation rates, tumbling prices at the gas pump are at least giving them a little relief. Brent Crude, the global benchmark for oil, has declined by 27 percent from its $127 peak six months ago. Gas prices in the United States, which were averaging just over $5 a gallon earlier in the summer, are now in the $3.72 range. That means Americans are saving $10 to $15 every time they fill up their tanks. Yet crude is a global commodity, and its price can fluctuate for any number of reasons — war, recession, and an economic slowdown in China to name but a few.