Breaking Now: Down 450; Up to $115


( BREAKING NOW: Just when Americans were led to believe there might be some good news coming as far as the price of gasoline at their neighborhood gas station, that price looks to skyrocket even more given the breaking news.

As the Dow Jones Industrial Average fell by just short of 450 points today, U.S. benchmark WTI crude oil jumped to nearly $115 per barrel.

As CNBC reports:

“U.S. stocks eased Wednesday as oil prices rose, renewing inflation fears.

“The Dow Jones Industrial Average dropped 448.96 points, or 1.3%, to 34,358.50. The S&P 500 declined 1.2% to 4,456.24. The Nasdaq Composite dipped 1.3% to 13,922.60…

“Oil prices ticked higher on the day, with U.S. benchmark WTI crude gaining around 5% to nearly $115 per barrel. International oil benchmark Brent crude advanced more than 5% to top $121 per barrel.” [emphasis added]

Bottom line: More pain at the pump will soon greet consumers when they pull in to fill up. With the summer vacation season in the not too distant future, Americans may be staying closer to home this summer instead of taking extensive trips.