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Oil prices drop further Thursday

Published: July 17, 2008 at 4:22 PM
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Today's Price of Crude Oil
Nymex Crude Oil
    79.25 -7.34 (-8.48% )
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  • Oil prices drop further Thursday

NEW YORK, July 17 (UPI) -- Crude oil prices plunged for the third straight day in New York Thursday, dropping to nearly $20 below the record set Friday.

On the New York Mercantile Exchange, crude oil prices fell $3.37 Thursday to $129.92 per barrel, as analysts worried the weak U.S. economy has forced demand to fall. Friday's record price was above $147 per barrel.

The price of heating oil rose 0.0119 cents in late trading to $3.7557 per gallon. Reformulated blendstock gasoline prices rose 0.0166 cents to $3.1799 per gallon. Natural gas prices rose 0.061 cents to $10.598 per million British thermal units.

At the pump, the national average price of unleaded regular gasoline was unchanged from Wednesday's price of $4.114 per gallon, AAA said.

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