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Strategies & Market Trends : Can you beat 50% per month?

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To: Smiling Bob who wrote (7896)3/3/2005 4:39:40 PM
From: Smiling Bob  Read Replies (1) of 19256
 
Gas Prices Jump 18 Cents
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Created: 3/3/2005 1:53:10 PM
Updated: 3/3/2005 1:54:14 PM

Grand Rapids - This morning gas prices jumped from $1.97 to $2.15 for a gallon of regular unleaded gas.

The last time prices were this high was in the summer of 2004 when a gallon of regular unleaded soared to $2.20.

That's due in part to the fact that oil prices are back above 54 dollars per barrel.

Traders pushed crude to new four-month highs on concerns of tight supplies around the world as demand grows and the dollar remains weak against other currencies.

Cold weather, some refinery snags in the US and jitters about an upcoming OPEC meeting contributed to the recent rise in prices.

Recent signals from OPEC officials that the cartel is unlikely to cut production at its next meeting have failed to calm the market.

Oil prices are roughly 45% higher than a year ago.

Web Editor: Kelly Shoff, Executive Producer
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