*Dip in gas prices

Perhaps we'll be seeing more drops in the coming weeks, what with the price of oil falling to around $60 a barrel. An average gallon of regular in the L.A. area is $2.932, down 4.5 cents from last week, according to the Auto Club. Oil is falling once more because the earlier reports of an economic recovery now seem a tad pessimistic.

*NYT has more on the fall in oil prices:

"The bottom line is that it's all about demand and the lesson here is that the recovery is going to be a long and bumpy road, and not a smooth and straight line," said Michael Wittner, the global head of oil research at Société Générale, in London. He expects prices could fall as low as $50 a barrel in the short term.

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Mark Lacter
Mark Lacter created the LA Biz Observed blog in 2006. He posted until the day before his death on Nov. 13, 2013.
 
Mark Lacter, business writer and editor was 59
The multi-talented Mark Lacter
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