After concern over a storm in the Gulf of Mexico abated, Crude oil prices settled back on the New York Mercantile Exchange.

Crude oil prices had jumped 3.1 percent on Friday on fears the storm could disrupt supplies.

It has been reported that after hitting a peak of $79 per barrel, however, concerns and prices eased and the price for August delivery crude finished at $78.10 on Monday.

From a prior settlement to $2.093 per gallon, heating oil prices lost 0.0192 cents.

Reformulated gasoline blend-stock prices lost 0.0328 cents to $2.135 per gallon.

It has also been reported that Henry Hub natural gas settled fell 0.141 cents $4.72 per million British thermal units.

According to reports of AAA, the national average price for unleaded regular gasoline at the pump rose to $2.756 per gallon from Sunday's $2.755. (With Inputs from Agencies)