« Taking a Whack at Making a Car |
Main
| Safety Agency Names Safest of '08 »
November 16, 2007
NEW YORK -- Gas prices fell slightly overnight for the first time in weeks, raising doubts about a view that pump prices are destined to rise by another 10 cents to 15 cents in coming weeks to catch up with skyrocketing crude prices, according to the Associated Press.
Oil futures, meanwhile, rose Friday on investors' belief that supplies aren't as plentiful as a government report at first suggested.
The national average price of a gallon of gas fell 0.3 cent overnight to $3.109, according to AAA and the Oil Price Information Service. That decline followed several days in which increases in the price of gas were less than in previous weeks.
"The increase has slowed down somewhat," said Troy Green, a spokesman for AAA.
Gas prices are tied closely to the price of crude oil, which jumped 42 percent from late August to a record of $98.62 a barrel last week. But oil has since traded in the low $90s.
Posted by Peter C. T. Elsworth 
at 12:42 PM to Crude oil market
, Gas prices
| Permalink
Please be civil. Vicious comments, personal attacks and profanity won't be published.
