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March 31, 2006 2:00 AM, EST

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rude oil prices receded from a two-month high Friday, on speculation that gasoline production may increase, Bloomberg reported.

Light sweet crude prices closed at $66.63 a barrel Friday on the New York Mercantile Exchange, down 52 cents from Thursday's closing price of $67.15, Bloomberg reported.

That had had bee the first time since Jan. 31 the benchmark price closed at more than $67.

Crude has risen almost $7 since closing at $60.42 on March 20, in part on concerns about gasoline supplies and because of seasonal refinery maintenance, Blomberg reported.

Oil prices hit a record $70.85 last Aug. 29 following Hurricane Katrina.