News Column

Crude Oil Drops $2.13 a Barrel

May 1, 2013

Crude oil prices dropped to $91 per barrel Wednesday on the New York Mercantile Exchange on concerns of slow demand.

Automatic Data Processing Inc. said 119,000 jobs were added to the economy in April, marking a steady decline in new jobs from December when 215,000 private sector jobs were created.

In early trading, West Texas Intermediate crude oil gave up $2.13 to $91 per barrel.

Gasoline prices lost 5.74 cents to $2.73 a gallon.

Home heating oil dropped 3.72 cents to $2.792 a gallon.

Natural gas added 8.5 cents to reach $4.433 per million British thermal units.

At the pump, the average price of a gallon of regular unleaded gasoline was $3.522 Wednesday, up from Tuesday's $3.508, the AAA Fuel Gauge Report said.

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Source: Copyright UPI 2013

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