OK, so now we’re being told that the price of oil is dropping, and that’s a bad thing. What’s the excuse here in Rochester, where gas is $2.85 a gallon? A little price drop once in a while is a good thing, if you ask me.
NEW YORK — The price of oil fell the most in three months Monday because of a supply glut at a key North American delivery point and speculation that an Energy Department report will show U.S. inventories jumped last week.
Light, sweet crude for May delivery fell $2.77 a barrel, to settle at $61.51, on the New York Mercantile Exchange. It was the lowest close since March 21 and the biggest one-day decline since Jan. 4. The price of oil is down 8.7 percent from a year ago.
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