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Crude Oil Update


Crude oil and gasoline prices rose to records Tuesday as investors purchased commodities because their returns have outpaced stocks, bonds and other financial instruments.

Oil climbed to $113.93 a barrel in New York, the highest since futures began trading in 1983. Rising global demand for raw materials and a weakening dollar have led to record prices this year for commodities including corn, rice and gold.

China said Tuesday that diesel imports surged 49 percent in March.

According to the article, the price of crude oil today is 78% higher than it was a year ago. Here comes the $4/gal gasoline. Someone leave a note on Bush's dresser about it so that he'll know. Thanks.

By min | April 15, 2008, 1:57 PM | Liberal Outrage