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Sunday, May 17, 2009

gas price jumps

Hey, two weeks ago gasoline was $1.88/gallon, but the day before yesterday I paid $2.46/gallon. Folks, we could soon see gas over $3/gal, I mean last year it was over four. Petroleum price are increasing. The cost of oil went over $60 for the first time in many weeks and seventy is not far behind.

Hey, gas prices jump in the last three weeks. This is not an indicator of an economic recovery, but rather of inflation. Food and fuel are going up.

The future price of oil will be much higher than now for two reasons; first the decline of the dollar, and also we hit peak oil in 2005. Guys, every year we produce less petroleum. This will impact the price at the pump.