Oil prices rise to the high for this year.

[moneysense]

According to the latest reports, oil has risen to $55.79 a barrel, making this price the highest yet in 2009.

What has saved us money at the pumps has been the fact that demand for gasoline etc has declined because of the recession and so many layoffs.

While on the other hand, storage areas for crude are stockpiled to the max. This is the highest stockpile since 1990.

It is also quite possible that as the economy recovers, prices for oil etc will go back up. Not good news for us when it comes to filling up our cars.

[pennypinch]

When I went to get gas yesterday morning it was $2.04 for a gallon of regular unleaded. I ended up riding past the gas station again yesterday afternoon and saw that it had changed to $2.15. thats a pretty big jump in just a couple of hours!

[ClassyLady]

I think they just raise the prices when ever they want. The oil companies gets rich while the poor gets poorer! /there s=is enough oil stockpiled in the US to last for years!