Rhymes With Right

October 06, 2005

Lower Gas Prices Coming?

It sure looks that way, over the next few months.

High-quality crude oil fell below the psychologically significant $60 per barrel mark Thursday in London trading.
So-called Brent crude on the International Petroleum Exchange fell 67 cents to $59.45, the Financial Times reported.
In New York, a barrel of similar crude oil fell 1.4 percent to $61.90 per barrel.

Gasoline on the New York Mercantile Exchange dropped about 2 percent to $1.87 per gallon, and heating oil drifted down slightly to $1.9833 per gallon.
Natural gas, however, rose 1.6 cents.
The generally downward movement in energy prices reflects the slow resumption of production and refining operations from storm-battered sites in the Gulf of Mexico, analysts said. Chevron Corp., for example, said Thursday it had begun restarting its 325,000 barrel-per-day Pascagoula, Miss., refinery.

Now if we could just do something about the nearly $1.00 a gallon in gas taxes that push the pump price so high.

Posted by: Greg at 11:07 AM | Comments (61) | Add Comment
Post contains 163 words, total size 1 kb.

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