Source: Edmunds
[Apr 19, 2006]
NEW YORK — Crude oil closed above $70 a barrel for the first time on Monday, a price that is likely to have a significant impact on driving habits, car purchases and consumer spending. It also raises the specter of a national average of $3 per gallon for gasoline as motorists head into the peak driving season.
The Gas Watch Web site said the current U.S. average price for a gallon of gasoline stands at $2.81. The highest price as of Monday is paid by motorists in Los Angeles: $3.35 per gallon. The lowest price, $2.19, is paid in Saint Paul, Minnesota.
The U.S. benchmark oil for May delivery settled at a record of $70.40 a barrel, up $1.08 a barrel or 1.56 percent on the New York Mercantile Exchange on Monday. For the year to date, oil is up 15 percent, according to the Wall Street Journal.
What this means to you: Suddenly, solar vehicles aren't so quaint anymore.
Wednesday, April 19, 2006
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