Wednesday, July 05, 2006

Oil prices top $75

Another record for the Oil price at above $75 a barrel . That would mean higher gas prices, we will see $3 a gallon as a norm. The cheap gas prices are long gone.
High demand for oil, the standoff between the West and the Iron and the North Korea fired some missiles. Also the ongoing Hurrican season all add to the cost of the oil.
These things are not going to resolove anytime soon. So, be prepaired for the higher prices.

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chart by Bloomberg

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