Crude Oil Down, Pump Price of Gas Steady
May 4, 2006
Crude oil prices led a broad energy commodity retreat Thursday on the New York Mercantile Exchange, with the price of barrel of oil dropping to less than $72.
High-quality crude for June delivery was off 87 cents to $71.41 per barrel, largely on news that U.S. supplies were near record highs.
Gasoline slipped 2 cents to $2.064 per gallon, but AAA said early Thursday that the national average price of regular was $2.918, essentially where it was the day before.
Heating oil declined a penny to $1.987 per gallon and natural gas fell nearly a dime to $6.528 per million Btu.