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Oil Prices at 20 Month Low

By BluPanda     Jan 18, 2007 in Business
Prices of crude oil drop below $50 a barrel.
"NEW YORK (CNNMoney.com) -- Oil prices tumbled below $50 a barrel Thursday, reaching their lowest level since May 2005, following a government report that revealed a bigger-than-expected increase in U.S. crude inventories.
U.S. light crude for February delivery was trading down $1.89 to $50.35 a barrel on the New York Mercantile Exchange, having traded as low as $49.90, its lowest trading level since May 25, 2005."
Prices at the gas pump haven't yet caught up with the prices of crude oil but, they do seem to be slowly dropping. The prices of crude oil has been on a nice steady pace downward for 20 months, while the prices of gas at the pump have resembled a yo-yo in motion going up and down erratically.
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