At the end of my post concerning a recent pro-diplomacy statement made by the head of the Israeli military...
The chain of questions raised by the report: Will this relax the tension between the powers (Iran and Israel)? If so, will gas prices go down? If so, will this help the US economy? If so, will this mean Obama is reelected?
A surge in gasoline prices earlier this year sparked talk of $5 a gallon by this summer, but prices at the pump have been ticking lower in April, and it appears they'll continue falling as the driving season approaches.
This rosy scenario is prompted by the fact that the price for one of the most common types of gasoline futures traded in New York has dropped 30 cents, going from over $3.40 a gallon at the beginning of April to $3.10 a gallon Wednesday.
...Brent crude has dropped from over $125 a barrel in early April to under $120 currently, largely a a result of tensions easing with Iran over its nuclear program. Recent signs of a slowing global economy have also helped push down prices.