The price of U.S. crude fell Thursday to $61.36, a drop of $1.43. It had dipped below $61 during the day, which was a nine-week low. Gasoline in turn fell 6.73 cents to an average of $1.8405 after falling 11 cents on Wednesday. The President encouraging Americans to use less fuel could have sparked these recent drops in prices, although analysts agree it's difficult to determine as refineries damaged by Hurricanes Katrina and Rita continue to become operational again. The Reuters report does end with perhaps the funniest line of any news article regarding the price of gas: "And U.S. bicycle sales are booming." Who knew those guys had a sense of humor?

Share This Photo X