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News Notes
Oil prices spike

Last month, a Goldman Sachs analyst put out the word that the price of a barrel of oil could “spike” to $105 in the next few years. The report sent prices for crude shooting past $56 a barrel. But the likelihood of hitting such an extreme oil price — twice the current value — is not so high, says Margot Anderson of the Energy Information Administration (EIA).

Nevertheless, EIA released its forecast for prices at the pump a few days later, looking ahead to the next 18 months, and consumer prices certainly are high. This summer, a gallon of gas will most likely cost an average of $2.28 per gallon at the pump, which is 38 cents higher than average prices last summer.

Read the full story, posted online on April 8.

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