Sunday, April 1, 2012

Gasoline Prices Approach Highest Ever; Who is to Blame?

National gasoline prices inch ever so higher. The national average is now $3.925, approaching the all-time high of $4.114 on 7/17/2008 according to the Fuel Gauge Report.



Locally, my price in Northern Illinois is about $4.28. Illinois average is $4.25. Prices in Chicago are higher.

Obama Finds Oil in Markets Is Sufficient to Sideline Iran

The New York Times reports Obama Finds Oil in Markets Is Sufficient to Sideline Iran.

After careful analysis of oil prices and months of negotiations, President Obama on Friday determined that there was sufficient oil in world markets to allow countries to significantly reduce their Iranian imports, clearing the way for Washington to impose severe new sanctions intended to slash Iran’s oil revenue and press Tehran to abandon its nuclear ambitions.

Read more: http://globaleconomicanalysis.blogspot.com/

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