Crude oil prices moved above $83 Monday — from just above $70 only two months ago. There are a number of causes for the increased price of crude, among them the growth in demand for oil in China.
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The average price of regular gasoline jumped 8.23 cents in the last two weeks, fueled by a jump in crude oil prices.
The latest Lundberg Survey said that the price of a gallon of regular gasoline is now $2.77, The Associated Press reported.
San Francisco had the highest price of the cities surveyed, with a gallon of regular costing $3.08. Tucson, Ariz., had the lowest average…
Continue reading Gas Prices Rise 8 Cents, Fueled by Crude Oil Jump
Gas Prices Rise 8 Cents, Fueled by Crude Oil Jump originally appeared on DailyFinance on Mon, 11 Oct 2010 06:41:00.
Oil prices reached their highest point in five months due to the combination of a weakening dollar, an interest-rate cut in Japan, a strike by French workers and a barge crash that closed off a Texas shipping route.
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Global oil demand growth is expected to increase a little this year but slip in 2011 as fuel stockpiles surge and concern persists that economic growth could falter, the International Energy Agency said on Friday.
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Oil prices advanced to nearly $75 a barrel in Asia after a report showed that U.S. crude oil inventories dropped more than forecast, suggesting improved demand.
Benchmark oil for delivery in October rose 32 cents to $74.99 a barrel late Thursday afternoon Singapore time in electronic trading on the New York Mercantile Exchange, according to The Associated Press.
U.S. crude oil…
Continue reading Oil Prices Near $75 a Barrel in Asia on U.S. Inventories
Oil Prices Near $75 a Barrel in Asia on U.S. Inventories originally appeared on DailyFinance on Thu, 09 Sep 2010 07:05:00.
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