Oil Prices Rise above $61.00 /Gallon

[fencesitter]

Source: NY Times

Filed at 12:58 p.m. ET

NEW YORK (AP) -- Oil prices rose more than $1 a barrel Thursday, a day after the government reported more robust refinery usage for the first time in weeks -- a sign that refiners have begun to ramp up production ahead of the summer driving season.

Traders also appeared to interpret a decision by the U.S. Federal Reserve to leave its benchmark interest rate unchanged as positive for the market.

A barrel of light, sweet crude for May delivery jumped $1.87 to $61.48 on the New York Mercantile Exchange. Oil last settled above $61 a barrel on March 8.

The Brent crude contract for May rose $1.64 to $62.41 a barrel on the ICE Futures exchange in London


Read more: http://www.nytimes.com/aponline/business/AP-Oil-Prices.html

[GregD]

1. per gallon? how about per barrel...

[Gato Moteado]

4. hey, wouldn't that be cool though?

what would the repukes do when it costs $3500 to fill up the tank on the SUV?

[Robbien]

6. They would just charge it off to one of their fatcat lobbyists

just as they probably do now.

[Gato Moteado]

12. i meant the general republican voters.....

...you know, southeastern and middle american rednecks, evangelical fake christian dirtbags, lily white suburban soccer moms, dittohead lemmings, freeptards, etc.

[fencesitter]

11. oops. Yes. per barrel. sorry.

[swag]

2. Wow, that's a steep jump. Just a minute ago, they were $61.00 / Barrel

[Gato Moteado]

3. inflation

nt

[Jack Rabbit]

5. Could you fix your title?

I paid about $3.20/gal yesterday for regular unleaded. That's ridiculous enough, but I don't know anybody who has paid $61/gal yet.

[Wwagsthedog]

7. Just think, this could be a prophesy and not a good one. nt

[noel adamson]

8. $61/gallon if the blood used to secure the near monopoly on it...

...was properly valued.

[chang0]

9. I bought a bicycle shop years ago hoping gas prices will make Americans

ride bicycles like the Chinese used to.

[Javaman]

10. boil that frog, boil that frog, boil that frog, boil that frog. nt