Oil Cut Five Cents A Barrel
May 8, 1909
Biggest oil price change occurs after 2 years of price stagnancy.
Pittsburg, May 5. – A reduction of 5 cents a barrel was announced by the Standard Oil Company in the price of all grades of crude oil except ragland, which is unchanged. This is the first change in the Pennsylvania and most other grades since March 9, 1907, since which time the Pennsylvania crude has been quoted constantly at $1.78.
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“Oil Cut Five Cents A Barrel,” Black Virginia: The Richmond Planet, 1894-1909, accessed February 22, 2019, https://blackvirginia.richmond.edu/items/show/1883.