WESTCHESTER COUNTY, N.Y. -- A sharp decline in the price of crude oil could have residents of Westchester County and the entire country pumping gas at the lowest prices they've seen in nearly four years, according to Bloomberg BusinessWeek.
The national average price for unleaded is $3.38 a gallon, an 8 percent drop since the end of June. Consumers pumped $40 billion of gasoline in September of 2013, and experts say the September 2014 total could be as much as $2 billion less, which could stimulate spending in other areas of the economy, Bloomberg BusinessWeek reported.
The decline is due to a 16 percent drop in International crude oil prices since June. Crude makes up 66 percent of the cost of a gallon of gas, Bloomberg Businessweek said.
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