Gasoline prices dip for first time in 18 days

Oil futures, meanwhile, soared after Turkish airstrikes on Kurdish rebel bases in Iraq injected some supply concerns into the market.

The national average price of a gallon of regular gas fell 0.1 cent overnight to $3.622, according to a survey of gas stations by AAA and the Oil Price Information Service. That’s the first time since April 14 that retail prices have fallen. Diesel prices fell 0.2 cent to a national average of $4.249 a gallon.

Soaring gas prices are cutting demand for gasoline, and analysts have long theorized that falling demand will eventually force prices lower. However, gas prices bucked those forecasts for most of the spring and followed oil’s sharp gains.

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WASHINGTON (AP) ‘ The economy showed off unexpected signs of resilience Friday as job losses slowed, the dollar gained a bit of muscle for a change and there were even indications food prices may be easing. The unemployment rate dipped, though that may not last.

The latest barometers flashed encouraging signs the economic slowdown may not be as pronounced as some had feared. Still, there’s much caution.

Employers eliminated 20,000 jobs in April ‘ not nearly as many as the 81,000 in March, and the fewest monthly losses so far this year, the Labor Department reported. The unemployment rate dropped to 5 percent, from 5.1 percent.