Today the cost of light sweet crude reached US$88 per barrel, catching close to the inflation-adjusted highs of $90.46 seen in 1980 during the start of the Iran-Iraq war. According to Reuters, oil prices have more than quadrupled since 2002 and climbed 43% since the start of this year alone. Strangely, the gas price didn’t follow this path for the moment but be sure that it will as soon as we reach the 100 dollar mark on the beginning of next year.
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