The rally in crude oil slowed on Monday, turning prices lower downward as the dollar moved higher.

Benchmark crude for December delivery fell $1.82 to settle at $78.68 a barrel on the New York Mercantile Exchange.      

The euro touched a 14-month high of $1.5061 in overnight trading before falling to $1.4859 in New York Monday afternoon. Late on Friday in New York, the euro was at $1.5002.

Earlier Monday, when oil was moving higher, PFGBest analyst Phil Flynn said crude prices are still being driven by the direction of the U.S. dollar.

 “The once mighty greenback continues to lose ground and respect. Things are getting so bad that if you dropped a dollar in a sandbox a cat would bury it,” Flynn wrote in his daily column to investors. “The dollar is now a punch line as commodities continue to find comfort at higher ranges.”

Meanwhile, the average price for a gallon of regular gasoline rose for the 13th straight day, adding sixth-tenths of a cent overnight to $2.671, according to auto club AAA, Wright Express and Oil Price Information Service.

The price of gasoline has risen 20 cents a gallon in the past two weeks, a situation that has economists wondering whether the steep increase could further cut into already depleted consumer spending.

With the holidays just around the corner and the U.S. still recovering from the worst recession in decades, a spike in gasoline prices could siphon money away from retail spending.

Oil services companies such as Exxon Mobil (XOM) and Chevron (CVX) fell Monday.

In other Nymex trading, heating oil fell 4.21 cents to settle at $2.0335 a gallon. Gasoline for November delivery lost a penny to settle at $2.0338 a gallon. Natural gas for November delivery slid 27.4 cents to settle at $4.513 per 1,000 cubic feet.

In London, Brent crude for December delivery gave up $1.66 to settle at $77.26 a barrel on the ICE Futures exchange.