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Commodities Briefing - Categorized | Oil, Price Watch more

Think speculators cause high oil prices? Don’t bet on it

Posted on 31 May 2013

Americans are spending more money at the pump than ever before. According to a recent estimate by the Energy Department, the average U.S. household spent nearly $3,000 on gasoline last year.
Earlier this month, the U.S. Energy Information Administration forecast that the price for regular gasoline will average $3.63 a gallon this summer — a slight decline from last summer, not far from the record levels set in 2008. Why do oil prices remain so stubbornly high?……………………………………….Full Article: Source

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VRS - who has written 37608 posts on Opalesque Commodities Briefing.


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