Crude oil prices fall Wednesday

New York -- Crude oil prices fell overnight on the New York Mercantile Exchange to less than $127 a barrel, nearly $10 per barrel off last week's record high.

Although the Organization of Petroleum Exporting Countries stated last week its members would keep production at current levels until September, prices
have fallen.

In New York Wednesday, crude oil prices fell $1.95 to $126.90 per barrel. Heating oil prices dropped 0.0342 cents to $3.765 per gallon. Reformulated blendstock gasoline prices fell 0.0269 cents to $3.3561 per gallon. Natural gas prices rose 0.07 cents to $11.731 per million British thermal units.

At the pump, the national average price for a gallon of unleaded gasoline rose to a record $3.944, up from Tuesday's price of $3.937, AAA said.

Copyright 2008 by United Press International.