US drivers paying highest gas prices so far in 2009 »
Posted By STONERS 8 months ago in Business & FinanceU.S. drivers paid the highest prices so far this year to fill-up at the pump, as the average cost for gasoline increased almost a penny over the last week to $2.06 a gallon, the Energy Department said on Monday.
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buckncindykill8 months ago
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"Oil fundamentals are not tight enough to carry crude above $55 a barrel and as soon as the combined support of strong equities and weak dollar goes missing, then crude oil starts to move back to the lower band of the trading range," said Olivier Jakob of Petromatrix in Switzerland.
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Prices aren't expected to go above $58 a barrel by the end of this year, and will quite likely hover around 50 for the forseeable future.
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