Sunday, October 21, 2007

Gasoline Prices Rising Until Dollar Rises

Gas prices are rising and it is causing some hurt with a lot United States citizens.
There are people grumbling under their breath every time they fill up their Ford Expedition, but most say gas prices would have to almost quadruple to $10 a gallon before they would get rid of their SUV.
Still, paying $55 to fill his 20 gallon tank isn't always easy.

The steep rise in oil prices to $90 a barrel over the past month means American consumers are almost certain to pay more for gasoline, heating oil, airline tickets and even food and goods that have to be transported great distances, experts say.
Some analysts are now predicting oil could go as high as $120 a barrel, but others argue that underlying supply and demand fundamentals do not support such a spike and that a drop in prices is more likely.
What is clear is that if the dollar continues to lose buying power against other currencies, the price of oil will continue to rise.

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