Crude price hits record $62.50 per barrel

| 8/4/2005

Crude oil prices hit another record high on Wednesday, Aug. 3, when they reached

$62.50 before dropping to close at $61.95.

The late drop in prices was attributed to a government report showing higher-than-expected crude oil inventories. Diesel inventories also rose for the 11th straight week, according to government reports.