I love the way they title the story about the dollar gaining and oil slipping. If you read the article the dollar gained after it nearly set a low record! Lame MSM!
Oil slips as dollar gains, gasoline up for 34th straight day to $3.86 per gallon
NEW YORK, N.Y. - The price of crude oil was stable Monday, dipping one cent to settle at US$112.28 per barrel on the New York Mercantile Exchange as the U.S. dollar pulled back from lows set earlier in the day..In London, Brent crude lost 33 cents to settle at $123.66 per barrel on the ICE Futures exchange
Oil is priced in U.S. dollars, so crude tends to fall as the greenbak strengthens and makes crude more expensive for investors holding foreign money.
The U.S. dollar has been weak because investors think the Federal Reserve will continue to keep interest rates near zero when it meets Tuesday and Wednesday. Rock-bottom U.S. interest rates make the dollar less attractive to investors.
Gasoline pump prices climbed for the 34th straight day, to a national U.S. average of more than $3.86 per gallon (101.97 cents US per litre), according to AAA, Wright Express and Oil Price Information Service.
In Canada, where gasoline prices are typically higher, the national average price on Monday was 130.06 cents Cdn per litre, according to GasBuddy.com.
A gallon of regular has increased 32 cents since March 22. The U.S. average price is now a dollar more per gallon than a year ago.
This President promised change and boy are we getting it. Aren't the Democrats the party for the low and middle class? Doesn't high gas prices hurt the low and middle class the most? And where is Obama from? Didn't he start his Political career in Chicago? And where is the highest gas prices in America? You guessed it, Chicago. He really cares about "his" people. Let's vote him out of office in 2012! Now that's the All Right Idea!