Gas price hike has a silver lining

Article Abstract:

The increase in the price of gasoline could actually benefit the US economy in the long run, according to economists as well as executives of the US Federal Reserve. Gas price increases, which has reached 33% as of mid-Jun 2000, can act in a similar manner to tax increases. Such increases tends to slow the economy, a development that has been prescribed by the Feds for the continued health of the country's economy.

Market information - general, Petroleum Refineries, Gasoline

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Oil price nears 10-year record

Article Abstract:

US crude oil prices topped the $34-per-barrel mark on Sep 5, 2000, to nearly match a decade high in crude oil prices. Analysts are concerned about shrinking worldwide oil supplies and a real possibility of heating oil shortages in the US in winter 2000. Some traders predict that the price of crude oil could reach up to $40 a barrel on Oct 2000 and Nov 2000 unless unless the Organization of Petroleum Exporting Countries boosts production. Such an increase could result in higher gas prices and larger fuel bills for consumers who use heating oil and natural gas.

Commodity & service prices, Crude Petroleum and Natural Gas Extraction, Crude Petroleum

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