Gas Prices Continue to Rise, Oil Supply Drops - KCBD NewsChannel 11 Lubbock

11/7/07

Gas Prices Continue to Rise, Oil Supply Drops

The Energy Department says U.S. oil supplies fell last week for the third straight week. News of sliding inventories has been one factor sending prices toward $100 per barrel.

Stockpiles of gasoline also dropped, defying analyst estimates calling for a slight increase.

At the pump, AAA and the Oil Price Information Service say gas prices rose nearly 2 cents overnight to more than $3.04 a gallon for regular-grade.

Here in Lubbock, prices range between $2.91 and $3.09 per gallon of regular unleaded.

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