Baku – APA. U.S. officials monitoring the recent drop in oil prices believe the dip so far has been beneficial for the U.S. economy, White House spokesman Josh Earnest said on Monday, Reuters reported. U.S. average gasoline prices have fallen below $2 per gallon in much of the country. That has boosted U.S. car sales and other areas in recent months.
Head of Federal Reserve Bank of New York William Dadli also declared that the drop in oil price will have a positive impact on the country's economy.
Brent crude slumped 5.9 per cent overnight to $US53.11 a barrel.