(CNBC) -- Crude oil’s sharp fall in 2018 has helped put some extra money in consumers’ pockets, in the form of falling gas prices.
According to AAA, nine states saw prices at the pump drop below $2 a gallon late this week, a gift for drivers this holiday season. Over the last 90 days, retail averages have dropped 83 of the past 90 days, with the downward trend expected to continue into early next year, the organization said.
Over the last two years, Russia and the cartel of the world’s largest oil producers known as OPEC have been managing the global petroleum supply, in order to rebalance the market after a prolonged and punishing oil price downturn.
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