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Crude oil prices fall Wednesday

Thu, 14/05/2009 - 11:36 by Salinder Kumar

New York -- Crude oil prices fell on the New York Mercantile Exchange Wednesday, although the U.S. Energy Information Administration said inventories dropped in the week.

Crude oil inventories declined by 4.7 million barrels in the week ending May 8. Gasoline inventories also declined, the government said.

Prices for crude oil fell 72 cents to $57.97 per barrel. Heating oil prices fell 0.0152 cents to $1.49 per gallon. Reformulated blendstock gasoline rose 0.0208 cents to $1.6875 per gallon. Natural gas prices fell 0.272 cents to $4.219 per million British thermal units.

At the pump, the average price for a gallon of regular unleaded gasoline was $2.267 Wednesday, up from Tuesday's $2.248 a gallon, AAA said.

Copyright 2009 by United Press International.

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