Continued reports of weak demand caused oil prices declines for the ninth straight day on Monday. Oil fell to $68 per barrel with pump prices falling alongside demand to $2.603 per gallon.
The government is expected to discharge it's own figures on gasoline by Monday afternoon.
Petroleum Exporting Countries will be meeting in Angola to discuss production. Several states have deviated from lower production quotas put in place by OPEC in order to ease falling oil prices at the start of 2009.
The U.S. supply of crude has risen in spite of falling demand in the last two months; the result of refineries decreasing conversions.
Oil has also been lingering in tankers as exporting countries put deliveries on delay until the markets improve.
Benchmark crude for January delivery slipped 10 cents to $69.77 on the New York Mercantile Exchange after dropping to $68.59.
Still oil prices have remained inflated as buyers purchase it on the basis of the USD instead of demand. Crude being measured in dollars permits investors holding stronger currencies to purchase it for a lower cost and continue to encourage profit.
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