Oil Prices Break $130 Per Barrel Barrier
Posted on: Wednesday, 21 May 2008, 09:01 CDT
Crude oil prices broke the $130 per barrel threshold Wednesday in New York trading on the weak U.S. dollar and continued high global demand.
On the New York Mercantile Exchange, crude oil prices gained $1.28 in overnight trading to $130.26 per barrel.
The price of heating oil rose 0.0439 cents to $3.3314 per gallon. Reformulated blendstock gasoline prices rose 0.027 cents to $3.3314 per gallon. Natural gas prices rose 0.168 cents to $11.533 per million British thermal units.
At the pump, the national average price for a gallon of unleaded gasoline reached a record $3.807, up from Tuesday's price of $3.80, AAA said.
Source: United Press International
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