Newspaper article THE JOURNAL RECORD

Gasoline Futures Plunge; Natural Gas, Oil Prices Fall

Newspaper article THE JOURNAL RECORD

Gasoline Futures Plunge; Natural Gas, Oil Prices Fall

Article excerpt

From Staff, Wire Reports

Unleaded gasoline futures plunged Tuesday to a 5-month low when a post-summer fall in prices was exacerbated by automatic sell orders.

October deliveries of unleaded gasoline fell 2.18 cents per gallon to 44.94 cents on the New York Mercantile Exchange. It was the lowest finish since March 30.

The market had little reaction to a federal court ruling to delay a new rule requiring refiners add ethanol to gasoline. The ruling isn't supposed to take effect until January.

Prices of gasoline have been falling as the summer driving season wanes and supplies run well ahead of year-ago levels.

But the trend was accelerated Tuesday due to standing orders to sell if the price falls below 47 cents, said Peter Beutel, president of investment research firm Cameron Hanover.

Natural gas prices fell. October contracts dropped 1.3 cents per 1,000 cubic feet to $1.675.

Light sweet crude for October delivery finished at $17.12 per barrel, down 27 cents. …

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