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Jan. 5, 2012 / 6:52 PM

Oil clings to new plateau

With gasoline prices falling below three dollars, area residents fill their cars and trucks during an ongoing winter storm that has left more than a foot of snow on the ground on December 22, 2011 in Denver

With gasoline prices falling below three dollars, area residents fill their cars and trucks during an ongoing winter storm that has left more than a foot of snow on the ground on December 22, 2011 in Denver | License Photo

NEW YORK, Jan. 5 (UPI) -- Crude oil prices clung to a new plateau above $101 per barrel Thursday in New York as forecasts called for temperatures to remain above normal.

With temperate weather expected to continue in the Northeast, West Texas Intermediate crude oil for February delivery dropped 30 cents to $101.51 per barrel on the New York Mercantile Exchange.

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Home heating oil added 0.86 cents to $3.0474 per gallon, while reformulated blendstock gasoline lost 0.02 cents to $2.7375 per gallon.

Henry Hub natural gas prices shed 0.1 cents to $2.96 per million British thermal units.

At the pump, the national average price of unleaded gasoline climbed sharply, reaching $3.319 per gallon from Wednesday's $3.228, AAA said.

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