Oil prices tumble in biggest weekly drop ever
NEW YORK (AP) - A stunning sell-off dragged oil prices to their biggest weekly drop ever and gas prices at the pump slipped by the more than they have at any point since February, giving consumers a rare breather in a year of record fuel prices.
The national average for a gallon of regular fell by the most since February, AAA data show, and could ease further in the days to come.
So is it time to declare the energy bubble popped?
Experts won't go that far just yet.
"It's too early to say we've seen the worst of it," said Tom Kloza, publisher and chief oil analyst of the Oil Price Information Service in Wall, N.J. "We would be Pollyannish if we believe one week represents a trend." read more
