Oil Prices Jump to $116

Oil Prices Jump to $116

Rising Gas PricesAccording to a reuters.com article published Thursday, August 23, 2012, oil prices are on the rise again with a barrel of oil being more than $116. The average consumer is feeling the price spike as gas prices at the pump have jumped to over $3.50 per gallon in many areas, some well over $4.00 per gallon.

A quote from the article:

Carsten Fritsch, energy analyst at Commerzbank in Frankfurt predicted that Brent could hit its previous 3 1/2 month high of $117 a barrel on either Thursday or Friday given the monetary stimulus hopes.

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