Ouch! $111.76 Oil.

[Lone_Star_Dem]

NEW YORK (AP) -- Oil prices settled at $111.76 on the back of a weak dollar, beating last week's record of $110.87.

Meanwhile, gas prices fluctuated over the weekend but appear poised to resume their relentless trek toward a record high milestone of $3.50 a gallon. Forecasts call for gas to peak as high as $3.65 within a month.

At the pump, the national average price of a gallon of gas edged lower overnight to $3.373 a gallon, 0.1 cent shy of a new record set Sunday, according to a survey of stations by AAA and the Oil Price Information Service. Still, prices are 0.8 cent higher than Friday, and almost 53 cents higher than a year ago.

The Energy Department recently predicted gas prices could average as much as $3.60 a month this summer, and said the daily national average could rise as high as $4 a times. Prices are already over $4 in some parts of the country.

http://money.cnn.com/2008/04/14/markets/oil.ap/index.htm?postversion=2008041415


In other news: Expect food costs and general cost of living expenses to continue to rise.

[PetrusMonsFormicarum]

1. Just bought heating oil

priced at $3.91/gallon. If I had purchased less than 100 gallons, the price would have been $4.17/gallon.

It makes me think that Dick Cheney's STILL OBFUSCATED Energy Policy (8 years unreleased) is composed of two words of advice for the fascist oil megacorps: MAKE MONEY!

[Cant trust em]

2. I guess we'll be reposting this when the record is broken again next month.

that seems to be the pattern. Sure am glad that I don't have a car these days.

[Lone_Star_Dem]

3. Next month? Such optimism.

Note that the previous record was set last week. :(

[Subdivisions]

6. Next month? Oil or gas price records get broken on almost

a daily basis.

[JackintheGreen]

4. If I had invested in January, when I wanted to...

I would have made $11. Damn!

[Javaman]

5. Just think of it thise way, next year at this time, you will look at that price

as the "good old days".

[Lone_Star_Dem]

7. While I dine on my meal of discount ramen and tap water, no doubt.

Perhaps I should invest in ramen noodles as a hedge against inflation? :(