Why oil prices are stubbornly high
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Drivers have been paying about 10 cents more for a gallon of gas since Dec. 31.
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Oil prices have pushed above $49 a barrel, approaching record levels as worries about the stability of supplies from Iraq, Nigeria and Russia compound concerns over low fuel stocks ahead of winter.
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Oil prices surged to a new high of $47 a  barrel on Wednesday on evidence from major economies that  energy costs are not substantially slowing the economic growth  that fuels oil demand. Fresh threats by rebel militia in Iraq  against oil facilities helped underpin price gains.
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Oil prices rose on Wednesday, pushed upwards by technical buying, but struggling to break above the narrow range that has persisted this month.
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The price of crude oil futures surged to new highs Monday despite assurances from Middle East oil producers that they were committed to bringing the price down as a strike began in Africa's largest exporter.
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Oil prices have surged to two-week highs following news that supplies in the US are tightening. In New York on Thursday, the cost of a barrel of oil rose almost $2 to $44.
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(09/27/04)-- Crude oil prices are on the rise again, this time because of supply fears. In early trading Monday, a price spike nudged a barrel to within four cents of the all-time high of $49.
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WASHINGTON -- High oil prices, a factor in virtually all US recessions over the past three decades, are surging again this year. And the higher crude oil prices climb, the more risk energy costs pose to what, until recently, many expected to be a banner year for the US economy.
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The higher inflation rate was the result of a surge in oil prices early this year. Oil prices have since leveled off, allowing the inflation rate to return to more modest levels.
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Average diesel prices rise to a record high above Â£1 a litre as the price of crude oil continues its ascent.
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Oil prices approach record highs as the weak dollar and more worries about supply inflate prices.
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High oil prices, which have been a factor in virtually all US recessions over the past three decades, are surging again this year.
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Oil prices jumped to fresh historic highs on Monday, breaching 93 dollars for the first time on mounting concerns about tight energy supplies worldwide, analysts said.
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Why oil won't fall below $60 again.
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record-high crude oil prices, and they are likely to continue rising, an industry analyst said Sunday. From Sept. 24 through Friday, the combined national average for all grades of gas rose from $1.
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Global crude oil prices, which shot up to record highs on Monday, continued to rule at the same level of close to $54 a barrel. Following the nationwide strike that began in Nigeria to protest against high
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The price of crude oil surged past $55 a barrel Monday as uncertainty swirled over production, high demand and tight global supplies.