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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