With Oil Near $50 a Barrel, Gas Prices Start to Inch Up
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Gasoline prices are heading up, ending an unusual period in which gasoline prices were falling even as oil prices rose.
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Crude oil prices neared 49 dollars per barrel Friday as Gulf of Mexico crude production rebounded at a slower pace than analysts had expected.
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PARIS The price of oil, which has been inexorably rising for the past two years, finally broke through the $50-a-barrel mark Tuesday, reaching a new milestone as some analysts warned that there was nothing to stop prices from rising even further.
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Oil prices charged toward $50 a barrel Monday, and gasoline prices surged to $1.92 a gallon last week, as petroleum output in the Gulf of Mexico returns at a slower-than-expected rate after Hurricane Ivan and geopolitical unrest keeps traders on edge.
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Drivers in Britain are facing further increases in petrol prices after crude oil prices reached all-time highs, surging past $50 a barrel.
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The price of a barrel of crude oil passed the record 50-dollar level on Monday, with various factors - such as the violent situation in Iraq and hurricanes in the Gulf of Mexico â-etting the blame for the hike.
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Supplies hit $50 a barrel for the first time as global demand rises and supplies are increasingly threatened. By Brad Foss. Crude oil surpassed $50 a barrel for the first time and analysts said Tuesday that
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Oil prices climbed above $42 a barrel on  Wednesday, rising for the third day in a row as cold weather  gripped the U.S. Northeast, the world's biggest heating fuel  market.
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Gas prices continued to rise during the holiday shopping season.
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Oil prices rose to record highs on  Monday, pushing crude in London above $50 for the first time  and extending a relentless rise that has added around 65  percent to the cost of crude this year.
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Oil prices climbed above $42 a barrel  on Wednesday, rising for the third day in a row as the heavy  consuming U.S. Northeast felt the first chills of winter.
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Rallying oil prices climbed to within a dollar of &#36;50 a barrel early on Monday as a blizzard enveloped the U.S. Northeast, boosting demand for heating oil.
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WASHINGTON -- The likelihood of finding $2-a-gallon gasoline in some parts of the United States is increasing by the day.
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After dropping to less than &#36;2 per gallon last month, the national average price of a gallon of gas is rising again, in large part because of higher crude oil prices, an industry analyst said Sunday.
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LONDON - Oil prices hovered near $50 per barrel Tuesday after a Saudi Arabian oil official said the world's largest petroleum exporter would raise its production capacity by nearly 5 percent in a bid to calm markets.    Light sweet crude for November delivery was up 16 cents at $49.80 per barrel in late morning trading on the New York Mercantile Exchange, retreating from the $50.47 high reached in overnight electronic trade...
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The cost of a barrel of oil jumped more than 25 cents in just a few hours Thursday -- hitting $52.53. .At this rate, the price could be aiming for the $53 mark soon.
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Heating-oil and natural-gas prices are already up, and gasoline costs could rise, too.