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GRE Business Report: January 2nd

A look at the top business headlines.
Gas prices were sliding down over 2013 and that trend is expected to continue in the new year. The average over the last year was about $3.49 a gallon. That is down from 2012 and 2011. AAA and GasBuddy predict it will drop more in 2014. The U.S. Energy Information Administration predicts gas will cost an average of $3.43 a gallon this year.

Your milk prices might be going up in 2014, but it will not happen right away. It might not happen at all if Congress can work out a new measure to avoid a dairy price hike. But even if that fix falls through, experts predict milk prices will not go up until March or April. 

Colorado became the first state to open retail stores selling recreational marijuana Monday. People who are 21 or older can now buy pot like alcohol. Each customer is limited to one ounce, which could cost upwards of $200. Travelers from out of state can buy up to a quarter ounce. A majority of voters in Colorado and Washington state approved recreational marijuana in 2012. 
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