mikemiller1955
Lieutenant General
- Joined
- Aug 3, 2008
- Messages
- 17,822
Mark Zandi, chief economist at Moody’s Analytics, recently said “a good rule of thumb” is to assume that for every $10 per barrel increase in oil prices, the cost of a gallon of regular unleaded will rise by 25 cents...Oil went up to 119.47 per barrel at it's peak last night...dropping back to about 102.00 now...
Qatar warned on Friday oil prices may reach $150 per barrel within three weeks if the war shuts down commercial traffic in the Strait of Hormuz...
Higher costs for oil and gas will spread to the costs of other goods and services, particularly those relying on trucks for transportation. Higher prices for airline tickets aren’t out of the question. Grocery bills and electricity prices will also follow suit if the war drags on...
