Oil Prices Punch Up Near $132
Posted on: Wednesday, 21 May 2008, 18:00 CDT
Crude oil prices, up more than $40 per barrel since February, charged up $2.93 Wednesday, closing in on the $132-per-barrel mark in New York.
As U.S. Senate leaders in Washington discussed the merits of tightening oversight on speculative commodity investments, crude oil jumped in a forceful surge to $131.91 per barrel.
The price of heating oil rose 0.07 cents to $3.845 per gallon. Reformulated blendstock gasoline prices rose 0.0658 cents to $3.3702 per gallon. Natural gas prices rose 0.198 cents to $11.563 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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