Oil tumbled below $44 a barrel Thursday and average gasoline prices slipped under $1.80 a gallon, both four year lows, as unemployment benefit claims hit a 26-year high and major companies announced more job cuts.
The unprecedented decline in energy prices has provided some relief to consumers and businesses, it has occurred as the nation dips into recession.
Fewer people have jobs to drive to. Gasoline futures for January delivery closed below a dollar, with optimism about the nation’s economic health in serious decline.
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