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Lone_Star_Dem Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Mar-10-08 10:47 AM
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Oil passes $107, setting another record
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Source: CNN Money

NEW YORK (AP) -- Oil prices hit $107.44, a new inflation-adjusted record and their fifth new high in the last six sessions.

Meanwhile, gasoline prices were poised Monday to set a new record at the pump, having surged to within half a cent of their record high of $3.227 a gallon.

The national average price of a gallon of gas rose 0.7 cent overnight to $3.222 a gallon, 69 cents higher than one year ago, according to AAA and the Oil Price Information Service. Last May, prices peaked at $3.227 as surging demand and a string of refinery outages raised concerns about supplies.

That record will likely be left in the dust soon as gas prices accelerate toward levels that could approach $4 a gallon, though most analysts believe prices will peak below that psychologically significant mark. In its last forecast, released last month, the Energy Department said prices will likely peak around $3.40 a gallon this spring; a new forecast is due Tuesday.

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  -Oil passes $107, setting another record Lone_Star_Dem  Mar-10-08 10:47 AM   #0 
  - So why does Big Oil need billions in tax break goodies at these prices???  jpak   Mar-10-08 10:50 AM   #1 
  - As usual - It's not what you know  edwardlindy   Mar-10-08 10:52 AM   #2 
  - most likely the price increases are because the oil is getting more  zonmoy   Mar-10-08 11:23 AM   #3 
  - They have to work for the oil now  wildcat78   Mar-10-08 03:38 PM   #10 
     - Oil companies could drill down to 20,000 feet n 1938  happyslug   Mar-10-08 09:15 PM   #11 
  - peak oil meets dollar deflation  endarkenment   Mar-10-08 11:44 AM   #4 
  - When oil first started to go up around 2002, at first it was the drop of the dollar  happyslug   Mar-10-08 09:20 PM   #12 
  - At this rate, I won't have enough $$$ to buy that beer the media told me I wanted to have with Bush!  KansDem   Mar-10-08 11:45 AM   #5 
  - Great line Kansdem!  maseman   Mar-10-08 12:12 PM   #7 
     - Thanks!  KansDem   Mar-10-08 12:34 PM   #8 
  - Park the Empire's War-Machine - that'd save a few million gallons  ConcernedCanuk   Mar-10-08 12:12 PM   #6 
  - Bush's base  TexasLawyer   Mar-10-08 12:54 PM   #9 
  - Is this an exact quote?  Delphinus   Mar-11-08 05:42 AM   #15 
     - Yes, that's a pretty-exact quote. I'm sure Google can find it, probably with video. (NT)  Tesha   Mar-11-08 06:11 AM   #16 
     - yep  GTRMAN   Mar-11-08 09:18 AM   #19 
  - Screw the bank I'm getting direct deposit to my gas station!  bonito   Mar-10-08 10:03 PM   #13 
  - This is fucking out of control. Something is going to break.  Xenotime   Mar-11-08 01:45 AM   #14 
  - $108.10 on the NYMEX at 9:20 EST... nt  Bigmack   Mar-11-08 08:56 AM   #17 
  - According to this story, it's $109.72  RebelOne   Mar-11-08 09:16 AM   #18 

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