Saturday, December 29, 2007

Gas Prices

Gas prices are on the rise again. Nationally gas prices rose back to $3 a gallon at the pump on Friday following rising futures prices on concerns about tight inventories and potential supply disruptions. But oil prices fell Friday, reversing earlier gains after weak figures on new home sales ignited fresh concerns about the economy. That gave traders a green light to lock in profits from oil's recent rally. Light, sweet crude for February delivery fell 62 cents to settle at $96 a barrel on the New York Mercantile Exchange. Despite Friday's fall,oil prices have risen 5 percent in a little more than a week.

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