US gas prices fall as oil price falls

Gas prices dropped across the United States on Monday, as U.S. crude oil prices edged lower as investors shifted to lower-cost oil and foreign supplies.

The drop was the biggest since February, when gasoline and diesel prices were cut.

Gasoline and diesel are among the cheapest on the planet, but they are now cheaper than many other commodities, including gold and silver.

As of 6 p.m.

EDT, the U.K. had fallen 3.2 percent to £2.07/gallon, the highest since February.

In the U., crude oil futures for March delivery fell 2.3 percent to $52.75/bbl, the lowest since March 2018.

Meanwhile, U.N. crude futures fell 5.7 percent to settle at $47.50/bble.

Prices in other major oil and gas markets also weakened.

Brent crude for March crude fell 2 percent to US$47.62/b.

The Brent crude index for April crude fell 0.7 to $45.43/bq.

Brent was down 7 percent from its record high of $55.96/b, on Nov. 3.

Wholesale gasoline prices fell 2 cents to US $2.69/gallons, the biggest drop since January.

Diesel prices were also down 1.3 cents to $2/gallo, the second-biggest drop since October.

Crude oil fell 6.7 cents to settle $51.63/bpd, its biggest weekly drop since March.

Liquids fell 2,564 bbl to $42.68/bcf, the largest weekly drop in four months.

Oil rose 2.2 cents to trade at $43.50 a barrel, the sixth-largest rise since November 2018.