[Boatanchors] Fwd: Fw: gas prices $ 3 a gallon

[W6YN Don Milbury]

That chain  letter, that was posted here earlier, sure did work well!
The  U.S. oil prices are falling.

73,  Don
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                              U.S. gasoline prices tumble as Chavez exits


                              NEW YORK, April 12 (Reuters) - U.S. oil
prices fell heavily for the second
                              straight day on Friday as Venezuelan
President Hugo Chavez' resignation
                              eased disruptions at the key U.S. supplier
and brightened drivers' hopes
                              for cheaper gasoline at the pump this
summer.

                              May crude on the New York Mercantile
Exchange plunged $1.52 to
                              $23.47 a barrel, the lowest price in five
weeks and 18 percent down from
                              recent six-month highs struck as concern
mounted over oil supply in both
                              Latin America and the Middle East.

                              Fears of an oil spike that might derail
economic recovery eased as signs
                              emerged that Venezuela will focus on
lifting oil production instead of
                              working with fellow producers in the OPEC
cartel to hold prices high.

                              "If the price of oil and production remains
near the present level, economic
                              consequences should be manageable," Sung
Won Sohn, chief economist
                              at Wells Fargo in Minneapolis. 

                              Venezuela's Chavez resigned after at least
10 people were killed by
                              suspected pro-Chavez gunmen during a mass
protest on Thursday.
                              Businessman Pedro Carmona will lead a
transition government before an
                              election.

                              Worries that prolonged protests could choke
the Venezuela's crude and
                              gasoline supply to the United States
evaporated as dissident employees
                              at state oil company PDVSA headed back to
work on Friday and pledged
                              to return exports to normal.

                              Venezuela is the No. 3 gasoline supplier
and No. 4 crude supplier to the
                              nearby U.S market and last year accounted
for 13 percent of petroleum
                              imports in the world's largest fuel market.


                              NYMEX gasoline prices clattered 6 cents a
gallon lower to 72.96 a gallon,
                              taking losses in the last two days to more
than 12 percent -- falls which
                              will soon be felt at U.S. service stations.

                              The national pump price has increased 27
cents a gallon, or 24 percent,
                              since early March to $1.413 a gallon, the
Energy Department said late on
                              Monday.