Blue Herald
06
Jun
Not That Kind Of Surge
by Buck • 8:41 am

When the price per barrel dropped several days ago, people were told it would be a few weeks before that lower price would reflect at the pump. It’s such a shame that didn’t happen. Well, that’s what you get when all it takes is a sneeze or someone crossing their eyes to effect the price of gas.

Oil surges more than $5

Crude responds to the dollar’s drop as the European Central Bank president suggests a rate hike that would strengthen the euro.

NEW YORK (AP) — Oil prices rose back above $128 a barrel Thursday after the dollar fell in response to comments by European Central Bank President Jean-Claude Trichet suggesting the bank could raise interest rates.

At the pump, meanwhile, gas prices rose to a new record near $3.99, and appeared likely to hit $4 soon.

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Filed: Oil


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