ANALYSIS-Fuel demand likely to stagnate despite price drop

Newswire

By Rebekah Kebede NEW YORK, Oct 31 (Reuters) - U.S. gasoline prices have dropped more than $1.50 per gallon since the summer's record, but with the economy slowing low prices may not be enough to convince Americans to return to their gas-guzzling ways. Pump prices peaked above $4 per gallon this summer, prompting motorists in the world's top consumer to drive 15 billion fewer miles (24 billion km) in August than year-earlier levels. The drop in demand was bigger than the decline during ...

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