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The cost of oil is continually on the rise, global recovery according to financial experts is heading into the danger zone. The chief economist
Crude oil has jumped to $95 a barrel. which is huge in the last 5 months where it was at $75
Htye are suggesting cutting supply, to keep recovery going. g13% in the last 6 months. Gasoline prices average across the nations is $1.13 up and this may go up to $5 for gas in the usa. By 2012 that means a jump of $2
The question on everyones minds is why is oil prices going up? The answer according to Phil Flynn Senior Market Analyst from PFGBEST Research is because the economy is improving and because of this there is a higher demand not just in the USA but around the world and that is causing prices to be driven up.
Also due to refineries being closed down in France, that has caused a snowball effect causing gasoline prices to surge.
In the next two year they anticipate that people could be paying as much as $5 a gallon, yet their is speculation that is nothing more than a rumor.
Another factor has been that the U.S dollar is weaker than usual and so that places pressure on the price of oil and gas
The question on everyones minds is why is oil prices going up? The answer according to Phil Flynn Senior Market Analyst from PFGBEST Research is because the economy is improving and because of this there is a higher demand not just in the USA but around the world and that is causing prices to be driven up.
Also due to refineries being closed down in France, that has caused a snowball effect causing gasoline prices to surge.
In the next two year they anticipate that people could be paying as much as $5 a gallon, yet their is speculation that is nothing more than a rumor.
Another factor has been that the U.S dollar is weaker than usual and so that places pressure on the price of oil and gas.
