WHAT HAPPENED? Gasoline prices took another jump Thursday, rising to $3.69 a gallon at most area stations. That jump, combined with one Wednesday, means gas prices are 14 cents a gallon higher than when the week began. They are also at their highest level since October 2008.
WHAT ABOUT DIESEL? Diesel is also high. A gallon of diesel fuel now fetches $4.10, nearly a dollar more than a year ago. The highest recorded average price of diesel in Erie was $4.98, on May 31, 2008.
WHAT'S DRIVING THIS? The price of oil rose to a 30-month high Thursday as fighters loyal to Moammar Gadhafi pushed back rebels from key areas in eastern Libya. Benchmark West Texas Intermediate crude rose $2.45, more than 2 percent, to settle at $106.72 a barrel on the New York Mercantile Exchange. At one point it hit $106.83, the highest it's been since September 2008. In London, Brent crude rose $2.10 to $117.05 per barrel.
Obama WANTS energy prices to be high - he just doesn't want anybody blaming HIM for that.
ReplyDeleteYes, there IS something we all can do about Obama's fuel price fiasco. It starts with putting the blame exactly where it belongs, on Obama and his administration, and keeping it there.
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