U.S. crude oil prices jumped to $111.80, then quickly dropped back down to $105.65.
If oil prices keep rising, gas prices will follow suit, of course.
Which means hybrid car sales should increase in the coming months, but only if more are being made. Unfortunately, I get the feeling that's not going to happen. Production is at a peak for most hybrid cars right now. The only likely place for sales to increase is in the hybrid SUVs from GM since they are brand new.
Will these large SUV hybrids benefit from high gas prices?
According to the oil execs, the price of oil is higher than it should be since the supply and demand of oil has remained steady and because there haven't been any recent crises. Instead, the weakness of the U.S. dollar is at fault for the jump upwards, added to speculation by investors.
Monday, March 17, 2008
Oil Prices Jump to All Time High Again
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