From the AP:
NEW YORK (AP) — Oil rose above $126 a barrel for the first time Friday, bringing its advance this week to nearly $10, as investors questioned whether a possible confrontation between the U.S. and Venezuela could cut exports from the OPEC member. Gas prices, meanwhile, rose above an average $3.67 a gallon at the pump, following oil’s recent path higher.
How high will it go? Any one who says they know is not exactly truthful. Why is it going up exactly? Ditto.
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May 24th, 2008 at 1:44 am
The earth has limited quantity of crude just like an undergound tank of water in home(with no added supply of water from outside). We are using limited crude since last 150 years. It has to be diminished. The price of crude will go increasing, although like a pumpy ride, till some other source of transportaion fuel is made available.
May 25th, 2008 at 10:18 pm
This is “All” a lot of Bullshit. Like just about everything else, were not told the truth.
Here is the truth, as long as these rich idiots know we will pay whatever amount gas is costing us, they will continue to raise it until we grow tired and stand up against it. There is no real reason for raising prices other than they know it’s travel season and they know they can…Each year at this time they do this and “Make up” some horse shit reason why…pffst and the public believes it…if our Government boxed a turd the right way and told us to buy it we would!