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Gasoline prices declined rapidly in one Federal Reserve district after oil prices fell following a recent ceasefire agreement between the U.S. and Iran. The district's central bank chief noted the price movement.
winnipegfreepress.comGasoline prices declined rapidly in one Federal Reserve district after oil prices fell following a recent ceasefire agreement between the U.S. and Iran. The district's central bank chief said the price movement was encouraging.
Price movement details Oil prices dropped after the ceasefire took effect.
The decline in crude prices contributed directly to lower gasoline costs in the district. The central bank chief stated that the speed of the gasoline price drop stood out in recent data. No further policy actions or statements from the central bank were reported in connection with the price change.
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