Falling crude oil price seen as possible relief for economy

10/3/2008 | NYTimes.com

Analysts say the declining price of crude oil could return billions of dollars to consumers and help shore up the battered U.S. economy, according to this article. This year's increase in the oil price, which has ranged between $91 and $120 per barrel in recent weeks, has driven up the cost of gasoline and food while hurting airlines and automakers. Oil producers are wary that the decline in prices will prompt some companies to cut back and OPEC to step in to reduce supply to keep prices up. Nonetheless, prices are still considered high, and soaring fuel prices are cited as a major factor in global airline industry losses since 2000.

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