Crude oil reaches $114 a barrel and the national average of gas increases in the United States at $3.39 a gallon with much higher prices in the Western part of the country such as San Francisco with an average price of $3.82 a gallon.
Oil companies blame harsh weather conditions, Russian oil production decline, a weak American dollar, and of course, the Iraqi war. According to the Federal Energy Information Administration, the demand for gas will fall in the summer due to economic woes, and high crude oil prices. We’ll have to wait to see that happen if it ever does.
Other organizations such as the Energy Dept speculate gas to increase well over $3.60 within the upcoming two months. So much for their regulated effort to control the price of gas.
The increase is gas prices have affected many aspects of American life and other countries too. Food prices are up, transportation costs are up, ticket prices for airline travel might increase with respect to two major airliners merging which are Delta and Northwest recently.
We’ll keep you pumped up with future updates on prices.
http://money.aol.com/news/articles/_a/crude-oil-at-new-high-just-above-114-gas/n20080415172509990005
http://news.yahoo.com/s/nm/20080414/us_nm/usa_gasoline_price_dc
http://biz.yahoo.com/ap/080414/oil_prices.html
http://news.aol.com/story/_a/airline-combos-could-mean-higher-prices/n20080415192809990025
