US Recession: Record High Oil & Gas Prices

Oil is at $119 a barrel (April 2008) For the first time ever, retail gas has risen to a national average of $3.51 per Gallon. That is 66 cents higher than last year! Diesel also reached a record high at $4.204 per Gallon. Gas prices are rising for many reasons...one being: "While gas prices are following oil futures higher, they’re also rising because supplies are falling. Refiners are in the process of switching over from making winter grade gasoline to the more-expensive, less-polluting, form of the fuel they’re required to sell in summer. That’s pushing supplies down as producers try to sell off all of their winter gas." -AP (MSNBC)

Page ID:	A182925A8
Brought to you by:	Iowa!
Topic name:	US Recession: Record High Oil & Gas Prices
Taking part in challenges:	Effects of the US Recession: Which one is Worse?

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