NEW YORK (AP) -- The price of oil jumped to a fresh 30-month high, above $108 a barrel Monday as fighting in Libya and unrest in the Middle East continued to raise doubts about future supplies...
Gasoline pump prices have followed oil higher and remain at record levels for this time of year. Gasoline added nearly 2 cents on Monday, reaching a national average of $3.662 per gallon, according to AAA, Wright Express and Oil Price Information Service...
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Comment: Crude alone will already do the job and bring overall price increases not to speak of specific shortages that may appear in the food sector. The Fed won't raise interest rates, you may bet. US monetary authorities have already signaled that they believe that price inflation will actually be a good thing. Only someone who is completely untouched by historical knowledge (as most Fed economists in fact are) can think such a stupid thing.
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