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Crude oil prices drop Friday

Submitted by MT Bureau on Sat, 11/01/2008 - 02:47. ::

New York -- Crude oil prices fell Friday on the New York Mercantile Exchange as economic worries spread.

Crude oil prices drop FridayGet original file (4KB)

The U.S. Commerce Department said Thursday the gross domestic product shrank an annual rate of 0.3 percent in the third quarter, indicating demand at the major oil consuming nation would decline.

Crude oil prices fell 0.59 cents to $67.48 per barrel. Heating oil prices rose 0.0905 cents to $2.0725 per gallon. Reformulated blendstock gasoline rose 0.056 cents to $1.453 per gallon, while natural gas prices rose 0.287 cents to $6.71 per million British thermal units.

At the pump, the average price for a gallon of regular unleaded gasoline was $2.504 Friday, down 0.043 cents from Thursday's $2.547 a gallon, AAA said.

Copyright 2008 by United Press International.

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