Crude Oil Prices Ease, But Stay Above $66
Click here to write a Letter to the Editor.The price of crude oil fell in early trading Monday, but remained above $66 a barrel ahead of the U.S. Department of Energy’s reports on the prices of diesel fuel and gasoline.
Oil Prices fell nearly 61 cents a barrel to $66.25 in electronic trading on the New York Mercantile Exchange.
The price of oil hit a record of $67.10 on Aug. 12, which is more than twice as much as it cost at the end of 2003. Oil prices have risen 45% in 2005 alone.
The price of oil is one of the driving factors in the price of motor fuels like diesel and gasoline.