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Oil hits $55/barrel and gas $2/gallon--again

Submitted by Brent Hugh on Mon, 10/18/2004 - 8:21am
This AP article reminds me of how pleasant it is to take a nice ride in the fall, when the colors are changing, temperatures are still nice, and due to skyrocketing gas prices, you can save a pretty penny by leaving your car at home:
Meantime, the average retail price of gasoline nationwide is slightly above $2 a gallon, just a nickel below the May peak, according to the Oil Price Information Service, a Lakewood, N.J. provider of industry data.

Crude oil prices are up about 75 percent from a year ago. However, even at current levels, crude oil prices are still about $27 below the all-time highs — in inflation-adjusted terms — of February 1981.

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