Why the Hike in Gas Prices?

July 4, 2005  •  From theTrumpet.com
Crude oil prices are at record highs. What’s behind the hike, how high will it go, and what are the larger repercussions?

On June 27, crude oil prices on the New York Mercantile Exchange closed above $60 a barrel for the first time ever. American consumers are worried that gas prices will continue to climb, and many businesses are likewise concerned. After all, the price of oil has shot up about 60 percent in the past year. Where will it go from here?

The Trumpet’s article “Black Gold” describes the supply-and-demand dynamics of global oil consumption and, more importantly, what to expect in the near future, and why.

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