Crude oil prices dropped on the New York Mercantile Exchange Friday morning, a day before OPEC oil ministers were scheduled to meet in Cairo.
A meeting of members of the Organization of Petroleum Exporting Countries would include discussions of production cuts, oil ministers have said.
Friday morning, crude oil prices fell 77 cents to $53.67 per barrel. Heating oil prices fell 0.0331 cents to $1.7036 per gallon. Reformulated blendstock gasoline fell 0.0197 cents to $1.1601 per gallon. Natural gas prices fell 0.131 cents to $6.747 per million British thermal units.
At the pump, the average price for a gallon of regular unleaded gasoline dropped to $1.835, falling 0.011 cents from Thursday's price of $1.846 a gallon, AAA said.
