Energy prices slipped for the second straight day Friday with the news that December job losses were higher than forecast.
Prices of crude and gasoline have been on the rise for over a week in correlation with the reportedly thriving global manufacturing sector, but with the job market remaining so weak, soaring energy costs cannot be maintained.
Close 15.3 million Americans are unemployed, with 3.9 million of them being added in 2009. The result is a large percentage of people unwilling or reluctant to use their heat and needing less gas when morning commutes are out of the picture.
Benchmark crude dropped on the New York Mercantile Exchange to 35 cents from 52 cents on Thursday, falling to $82.31 per barrel.
Despite the drop, prices remain high for the time being. The average price of a gallon of gasoline has been at its highest point for last year just before the news.
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