Hurricane Gustav : $5 a gallon of Oil

Posted by Kris | Saturday, August 30, 2008 | | 0 comments »

Gas prices move higher as Gustav spins toward Gulf refineries; crude rebounds

NEW YORK (AP) -- Retail gas prices swung higher Friday -- the first increase in 43 days -- as analysts warned that a direct hit on U.S. energy infrastructure by Hurricane Gustav could send pump prices hurtling toward $5 a gallon.

The point is that analysts change their views very very fast..Last few week , oil prices were dropping like hell because of the supposed fleeing speculators and sufficient ample supply. Now it is the opposite again.