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U.S. gasoline prices static amid shutdown

Oct. 14, 2013 at 8:28 AM   |   Comments

WASHINGTON, Oct. 14 (UPI) -- The inability of U.S. lawmakers to find a way to end a lingering budget crisis hasn't impacted prices at the gasoline pump, AAA finds.

Stock markets in the United States open the trading week entering the third week of a partial federal government shutdown with a debt ceiling crisis looming. Both sides of the debate, along with the International Monetary Fund and World Bank, warned there may be global economic consequences.

AAA said Monday the average price for a gallon of regular unleaded gasoline was unchanged from one week ago at $3.34. The motor group said it expected prices will decline for the rest of the year because of lower demand and because refiners are using a cheaper winter blend of gasoline.

The Energy Information Administration, the analytical division of the U.S. Energy Department, said $3.34 per gallon should be the national average for the rest of the year.

Douglas Roberts, an analyst at ChannelCapitalResearch.com, told U.S. political website The Hill the fiscal issue will likely be resolved, describing the impasse as "one big game of chicken."

© 2013 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
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