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Published: May 20, 2008 08:07 pm    print this story   email this story  

Oil settles above $129 for first time

Associated Press

NEW YORK — Crude prices spiked to yet another trading high Tuesday as supply concerns mounted.

At filling stations across the country, the national average price for a gallon of regular gasoline touched $3.80 for the first time, having followed oil’s spectacular rise.

The June contract for light, sweet crude traded as high as $129.60 on the New York Mercantile Exchange before settling at $129.07, up $2.02 from Monday’s record high.

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