Oil prices declining as fiscal year nears an end

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North Slope oil prices dipped below $60 a barrel for the first time since mid-January, according to the Alaska Department of Revenue’s daily post.

The $59.45 per barrel price reflects a $2.67 drop in Friday’s activity, according to the department’s most recent estimate.

The last time oil fell below $60 was Jan. 14, when the price hit $59.62. January was also the lowest for a monthly average this the year at $60.40.

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