"Oil reaches $126 on Venezuela concerns; diesel at $4.269"
By JOHN WILEN
The Associated Press
5/9/2008
NEW YORK - Oil rose above $126 a barrel for the first time Friday, bringing
its advance this week to nearly $10, as investors questioned whether a
possible confrontation between the U.S. and Venezuela could cut exports from
the OPEC member. At truck stops, retail diesel prices rose 1.8 cents
overnight to a record national average of $4.269 a gallon.
Gas prices, meanwhile, rose above an average $3.67 a gallon at the pump,
following oil's recent path higher.
