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Europe’s energy suicide pact

Posted on 13 February 2012

US media is warning gasoline consumers they are threatened with a possible mega price hike. If the long drawn out Iran crisis moved to war action like closing the Hormuz Straits this could spike barrel prices to $200, nearly doubling average US forecourt gasoline prices to $6 a gallon.
Today in Europe, with the Straits of Hormuz wide open, European gasoline buyers pay an average of around $2.15 or 1.60 euro per litre. This is $8.05 for one US gallon and $335 per barrel………………………………………..Full Article: Source


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VRS - who has written 34624 posts on Opalesque Commodities Briefing.


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