Crude Oil Approaches Record Highs

The price of light sweed crude oil approached record highs today, almost topping $55 a barrel. There are many reasons for this oil price spike, but the most common are certainly OPEC's oil producing policies, China's record demand for oil, supply disruptions, and speculators buying up crude oil futures, which artificially push prices up.

What does this mean for consumers? In the simplest sense it means higher gas prices, and higher gas heating bills. Watch the pump closely this week and you will see your local prices rising.



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