Oil and Gas Prices Fall Slightly Wednesday
June 25, 2008
Crude oil prices dropped slightly to $136.74 a barrel Wednesday on the New York Mercantile Exchange as investors awaited a U.S. inventory report.
Crude oil supplies have dropped in recent weeks but global demand continues to rise, absorbing any leftover crude not stockpiled in the United States.
Oil prices fell 26 cents Wednesday morning to $136.74 per barrel. The price of heating oil rose 0.0074 cents $3.821 per gallon. Reformulated blendstock gasoline prices fell 0.0128 cents to $3.4507 per gallon. Natural gas prices fell 0.136 cents to $12.875 per million British thermal units.
At the pump, the national average price for a gallon of unleaded gasoline fell for the fifth consecutive day, down 0.002 cents to $4.067 per gallon, AAA said.