Oil and gasoline prices are starting to decline slightly as more of the capacity knocked out by Katrina comes back online. Regardless, I hesitate to call oil "cheap" at over $66/barrel, which still has a lot of potential to affect economic growth in upcoming months. With consumer spending falling negative for only the second time ever, one has to ask how this will affect the automotive market as a whole before delving too far into the question of how gas prices will affect each segment of the market.
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