(September 2, 2008)--Oil prices dropped to a five-month low Tuesday as light, sweet crude for October delivery fell more than $6 to $109 a barrel on the New York Mercantile Exchange, after earlier dropping as low as $105.46.
It was the lowest trading level since April 4th, just before oil began an unprecedented march above $147 per barrel.
Virtually all oil and natural gas production remained shut down in the Gulf of Mexico as energy companies began assessing damage to offshore platforms, rigs and pipelines, according to the U.S. Minerals Management Service.
Some oil companies were preparing to redeploy evacuated personnel as early as Wednesday.
Around Texas Tuesday, prices at the pump ranged from as little as $3.28 a gallon at a station in Princeton to as much as $3.99 a gallon at a station in Amarillo.
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