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Airline shares slip as oil costs go up

Daniel Acker/Bloomberg News

Oil prices rose further yesterday, up $2.65 to $106.25 per barrel in New York. That’s the highest price since May 4.

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Airlines stocks fell as fuel prices rose. United Continental Holdings, the world’s biggest airline, fell 9.1 percent. Delta Air Lines lost 78 cents, or 7.2 percent, to close at $10.05. And US Airways Group saw the biggest decline percentage wise, closing down $1.01, or 11.35 percent, at $7.89. Jet fuel is the single biggest expense for most airlines. As of last week the price had risen 12 percent over the past year.

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