Crude oil prices head higher

The People's Bank of China knocked the price of oil its perch Tuesday, raising interest rates to slow the economy and curb inflation. Oil prices Tuesday dropped $3.72 or about 4 percent Tuesday, then dipped to an overnight low of $79.90 for December delivery light, sweet crude.

Oil prices were given a boost by a weaker dollar. The dollar index, a pro-rated measure of the dollar against six major currencies, dropped 1.26 percent Wednesday.

Heating oil prices rebounded, adding 5.58 cents to $2.451 per gallon.

Reformulated gasoline prices gained 2.56 cents from a prior settlement to $2.0583 per gallon. Henry Hub natural gas prices shed 2 cents to $3.511 per million British thermal units.

At the pump, the national average price of unleaded gasoline rose Wednesday to $2.831 per gallon from Tuesday's $2.829, AAA said.

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