Retail gas prices were well over $4 a gallon Thursday in California.
The Labor Department on Thursday reported 365,000 applications for unemployment benefits last week, a decline of 18,000 from the previous week. Economists had been looking for a smaller decrease of about 5,000. Jobless claims have been volatile in recent weeks because of strike-related layoffs in the auto industry and an unusually early Easter, which has played havoc with the government’s seasonal adjustment measurements.
Higher still
Gasoline and crude oil set records again Thursday, with gas rising 3 cents to an average national price of nearly $3.65 a gallon and oil crossing $124 a barrel for the first time. Diesel prices also rose, adding 0.9 cents to match a record national average of $4.251 a gallon. Kansas City area gas prices averaged $3.50, up 2 cents. Light, sweet crude for June delivery rose 16 cents and closed at a record $123.69 a barrel in New York trading.
Steady rates
Freddie Mac reported Thursday that 30-year fixed-rate mortgages averaged 6.05 percent this week, compared with 6.06 percent last week. It marked the third week that 30-year rates have been above 6 percent. The average 15-year fixed-rate mortgage edged up to 5.60 percent from 5.59 percent. Five-year adjustable-rate mortgages dropped to 5.67 percent from 5.73 percent.
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