Crude Oil Prices Down Thursday
Posted on: Thursday, 11 September 2008, 18:00 CDT
Oil prices fell on the New York Mercantile Exchange, coming closer to the $100-per-barrel mark.
Prices have fallen more than 29 percent from their record of more than $147 on July 11, hitting $100.87 per barrel Thursday.
Prices fell despite the Organization of Petroleum Exporting Country's mandate, announced Wednesday, to cut production by 520,000 barrels a day to prop up prices.
Heating oil was down up 0.0925 cents to $2.8099 per gallon. Reformulated gasoline prices rose 0.0962 cents to $2.7488 per gallon. Natural gas prices fell 0.145 cents to $7.248 per million British thermal units.
At the pump, average gas prices rose. U.S. motorists were paying an average of $3.671 for a gallon of regular, unleaded, up from Wednesday's $3.668, the AAA said.
Source: United Press International
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