|
|
|
Oil expected to jump to at least 10-cent-a-gallon TOM INCANTALUPO The federal government is predicting another 10-cent-a-gallon increase in gasoline prices by August, to a national average of $4.15, but some private analysts think that's too conservative - by a dime and a month. Meanwhile, oil prices jumped again yesterday in futures trading, propelled by another decline in the dollar and a federal government report showing lower crude inventories. The national average for regular gasoline was about $4.05 yesterday, according to the AAA. Long Island's average was $4.287, up 34 cents from a month earlier and $1.01 above a year earlier. The private analysts expect another 20 cents at the pump by the July 4 weekend.
(Article continues below) "I think we're going to be at $4.25 pretty soon if the [crude oil] market continues to do what it's doing," said Andy Lipow, president of Houston consulting company Lipow Oil Associates Llc. Lipow and other private and governmental experts say gasoline is plentiful but that its price is being dragged upward by crude oil, which is rising in price because of concern about world supplies and factors related to currency exchange rates and interest rates here and in Europe that have attracted investors to commodities like petroleum.
|
|
|
| PRISON
PLANET.com Copyright © 2002-2008 Alex Jones
All rights reserved.
|
Yahoo! MyWeb
