Economic uncertainty of the past two weeks has taken the legs out from under a rally in energy prices. Crude oil peaked at $83 per barrel in January, but has since lost much of the boost that began when winter temperatures turned frigid in late December.
Crude oil prices dropped 55 cents to $74.18 per barrel Wednesday morning.
Heating oil prices lost 0.0134 cents to $1.966 per gallon. Reformulated gasoline prices eased back 0.0309 cents to $1.98 per gallon. Natural gas prices shed 0.233 cents to $5.445 per million British thermal units.
At the pump, the national average price of unleaded gasoline was $2.70 per gallon Wednesday, down from Tuesday's $2.737, AAA said.
Copyright 2010 United Press International.
Post new comment