A weak US dollar has sent investors to oil, pushing up crude prices over the past few months. That means higher gasoline prices this Thanksgiving.
A report that top oil producing nations wanted to get paid in currencies other than the dollar made Wall Street skittish Tuesday.
The higher prices, linked to rising oil costs, are still lower compared with last Memorial Day.
With crude oil stocks high and gasoline demand low, US drivers may get a reprieve from the customary spring spike in gasoline prices this year.
Several indicators offer hope that the recession might be finally nearing the bottom.
Gasoline and some heating costs are expected to be relatively low in 2009.
The central bank plans to buy debt directly from companies for the first time in decades.
Disruptions in supply could push up pump prices, as they did after Katrina.
Prices below $4 a gallon could help carmakers and back-to-school retailers.
If the decline continues, it could buoy consumers, retailers, and carmakers.