Return to $1 gas? Energy prices evaporate

Return to $1 gas? Energy prices evaporate
Friday December 5, 8:25 pm ET

By Mark Williams, AP Energy Writer

Collapsing oil prices bring back the unthinkable: Could gas fall below a $1 a gallon?
COLUMBUS, Ohio (AP) -- Oil prices hit
four-year lows Friday as employers cut the highest number of jobs in 34
years. The continuing decline in prices is so dramatic and so sudden
that it is raising the prospect that gas prices could soon fall below
$1 a gallon.

The
worst jobs data in 34 years on Friday just added more fuel to the
deepening global recession as U.S. employers slashed a far
worse-than-expected 533,000 jobs in November and the unemployment rate
rose to a 15-year high of 6.7 percent.