Published on Northloop Neighborhoods (http://northloop.14gram.com)
US will stop sending oil into strategic reserves (AP)
By admin
Created 05/16/2008 - 12:01pm

High gas prices posted at a Shell gas station in Redwood City, Calif., Wednesday, May 14, 2008, as a Toyota Prius hybrid drives by.<br /><br />Gas prices roared above $3.75 a gallon Wednesday, while oil prices fell as an Energy Department report gave a mixed picture of the nation's petroleum reserves.<br /><br />At the pump, the average national price of a gallon of regular gas rose 2.6 cents overnight to a record $3.758 a gallon, according to AAA and the Oil Price Information Service.<br /><br />Gas prices are 67 cents higher than a year ago, and are expected to continue rising at least until the Memorial Day weekend.<br /><br />(AP Photo/Paul Sakuma) [1]AP - The Energy Department says it has canceled oil shipments into the Strategic Petroleum Reserve beginning in July when the current purchase contract expires.


Source URL (retrieved on 11/22/2008 - 10:01am): http://northloop.14gram.com/us-will-stop-sending-oil-strategic-reserves-ap

Links:
[1] http://us.rd.yahoo.com/dailynews/rss/topstories/*http://news.yahoo.com/s/ap/20080516/ap_on_bi_ge/oil_reserve