RENEE MONTAGNE, host: NPR's business news starts with oil prices up and car sales down.</s>RENEE MONTAGNE, host: We're following the rising price of oil, and it's now at a true record. Yesterday in trading, crude oil futures briefly hit $103.95. That's higher than the inflation-adjusted record set back in April of 1980. Prices eventually settled at just over $102. A big reason oil keeps rising is fear about the U.S. economy. That's weakening the dollar, so investors are pouring their money into hard assets, like oil.</s>RENEE MONTAGNE, host: Oil prices and the economy are taking a toll on U.S. automakers. All three automakers reported steep declines in U.S. sales last month, as consumers stayed away from pickup trucks and SUVs. Even Toyota was down 3 percent. Only Honda's sales were up by 5 percent.
Oil has hit a true record, with crude oil futures briefly hitting $103.95 a barrel Monday. That's higher than the inflation-adjusted record set in April 1980. Prices eventually settled Monday at $102.45 a barrel. A weakening dollar is partly responsible, as investors pour their money into hard assets like oil.