The price for light, sweet crude oil fell off a bit in trading on the
New York Mercantile Exchange on Monday, Aug. 15.
Crude oil was trading at $66.25 per barrel on Monday afternoon, after
topping a record $67 per barrel on Friday.
David Thurtell, a commodity strategist with the Commonwealth Bank of
Australia in Sydney, told Forbes.com that prices were dropping because fears were easing over U.S. refinery problems
in recent weeks.
The United States has seen several refinery outages during the past
month, with the most recent on Thursday, Aug. 11, at a ConcoPhillips facility
in Wood River, IL.
Meanwhile, diesel prices continued to climb during the weekend,
especially in California. ProMiles reported an average Monday of $3.025 per
gallon in California, up from $3.006 on Friday, Aug. 12.
One Exxon station in La Moine, CA, was selling diesel for $3.54 per
gallon, according to CaliforniaGasPrices.com. That’s a whole dollar higher than
the national average of $2.587 per gallon reported by ProMiles.