Oil and Gas Prices Settle Slightly

Crude oil prices dropped from the record $111 Monday on the New York Mercantile Exchange in spite of the U.S. dollar’s continued weakness.

The dollar has weakened against the euro and the yen, reaching 96.59 yen Monday morning, while the euro traded at $1.5798.

But, the price of crude, which hit the record Thursday, settled down to $110.33 per barrel Monday morning.

The price of heating oil gained 0.09 cents on the exchange Monday to $3.1555 per gallon.

Reformulated blendstock gasoline prices reached $2.7025 per gallon, up 0.0131 cents per gallon.

The price of natural gas gained 0.0168 cents to $10.036 per million British thermal units.

At the pump, the average national price for a gallon of unleaded gasoline hit $3.283 Monday, down from $3.285 per gallon on Sunday, the AAA Daily Fuel Guage Report said.