Gasoline may exceed peak summer prices soon
There is a good chance that this week, retail gasoline will surpass peak summer prices reached just over four months ago during the driving season when prices are usually at their highest.
Prices a year ago were $2.668 a gallon. In the Seattle metro area Tuesday, the price was $2.823 a gallon, according to AAA. Prices are on the rise this year because of the failing U.S dollar value which has lost more than 15 percent of its value since March.
Because crude oil is paid for with with dollars, investors who hold euros or other currencies that have strengthened against the dollar can essentially buy more oil for less cash.
http://seattletimes.nwsource.com/html/businesstechnology/2010145119_apusoilprices.html
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