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Crude oil just under $114; gasoline also at a record

NEW YORK -- Crude oil prices rose to within a penny of $114 a barrel Tuesday, setting a new record as concerns mounted about global supplies, according to the Associated Press.

U.S. retail gasoline and diesel prices also struck new highs.

Light, sweet crude for May delivery rose as high as $113.99 a barrel on the New York Mercantile Exchange before backing off to $113.75, up $1.99 from Monday's record settlement price of $111.76 a barrel.

Meanwhile, retail gasoline prices rose to a new average national record of $3.386, according to AAA and the Oil Price Information Service. Prices were highest in California, where mid-range and higher grades are now averaging more than $4 a gallon.

Posted by Peter C. T. Elsworth  at 2:56 PM to Crude oil market , Gas prices | Permalink | Comments 0

John Herlitz, 65, Designer of Muscle Cars, Dies

John E. Herlitz, an automobile designer who styled a signature American muscle car and left his imprint on many notable Chrysler models of the late 20th century, died March 24 in Naples, Fla. He was 65.

Read The New York Times obituary.

Posted by Peter C. T. Elsworth  at 10:22 AM to Design | Permalink | Comments 0

Ford Focus is a driving force

A year ago, Ford Motor Co.'s sprawling assembly plant in Wayne, which builds the Focus compact car, was on the chopping block as part of the automaker's restructuring plan, putting the lives of its 3,000 workers in flux, according to The Detroit News.

A year ago, Ford Motor Co.'s sprawling assembly plant in Wayne, which builds the Focus compact car, was on the chopping block as part of the automaker's restructuring plan, putting the lives of its 3,000 workers in flux.

Posted by Peter C. T. Elsworth  at 10:15 AM to Ford | Permalink | Comments 0

Chrysler, Nissan announce partnership

Chrysler and Nissan announced a partnership Monday to build vehicles for each other in what may mark the start of a new wave of similar get-togethers amid falling sales in the auto industry, according to USA Today.

Chrysler will build Nissan's next generation of full-size pickups at a plant in Mexico. The truck will replace the Titan, made at Nissan's Canton, Miss., plant, starting in 2011, the two companies said.

Nissan will make in Japan a new "fuel-efficient small car" for Chrysler to sell in the USA and around the world starting in 2010. Chrysler currently does not have an entry in the subcompact segment. The two had said in January that Nissan would supply a version of its subcompact Versa for Chrysler to sell in South America starting in 2009.

Posted by Peter C. T. Elsworth  at 10:04 AM to Chrysler , Nissan | Permalink | Comments 0

Oil Sets New High Above $113 a Barrel

VIENNA, Austria -- Oil prices set yet another intraday trading record Tuesday, surging close to $114 a barrel as the U.S. dollar fell and crude oil shipments along one U.S. pipeline were said to be moving below capacity, according to the Associated Press.

Light, sweet crude for May delivery on the New York Mercantile Exchange traded as high as $113.66 a barrel by afternoon in Europe. That was $1.45 above the trading record set last week and $1.90 above Monday's record settlement close of $111.76 a barrel.

Posted by Peter C. T. Elsworth  at 10:02 AM to Crude oil market | Permalink | Comments 0

American Chopper filming at West Warwick business

Paul Teutul Sr. and Paul Teutul Jr. –– the stars of the television program American Chopper –– were scheduled to appear at the headquarters of Dryvit Systems Inc. in West Warwick yesterday, according to The Providence Journal.

The Teutuls are creating a custom Harley-Davidson chopper motorcycle for Dryvit that will be featured on a future episode. They will be filming a short segment for that program at Dryvit in which they will apply the company’s exterior insulation and finishing product to a wall.

The Teutuls founded Orange County Choppers, a custom motorcycle manufacturer, in 1999. It is featured on their “reality” TV show that debuted in 2002. Their company is also constructing a new headquarters, production facility and retail store in Newburgh, N.Y., and the building features Dryvit products on the exterior.

Posted by Peter C. T. Elsworth  at 9:59 AM to Motorcycling | Permalink | Comments 0

R.I. pump prices hit new high

Gasoline prices in Rhode Island continue to climb and have reached the highest ever recorded by AAA, according to The Providence Journal.

According to AAA’s weekly survey, self-serve regular gasoline is averaging $3.24 in Rhode Island, 4 cents pricier than last week’s average. That price beats the previous record –– set in the aftermath of Hurricane Katrina –– by a penny.

The prices, however, are not adjusted for inflation and the state still lags the national average of $3.37. Last year at this time, regular was averaging $2.79 in the Ocean State. AAA, which conducts the survey weekly, suggests shopping around for the best deals because the prices ranged from $3.16 to $3.33.

Posted by Peter C. T. Elsworth  at 9:57 AM to Gas prices | Permalink | Comments 0