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Chart of the Day
Today, crude oil closed at over $112 per barrel. As would be expected, this has translated into high prices at the pump. How high? As today's chart illustrates, the cost of one gallon of gasoline has just surpassed the inflation-adjusted peak of 1981. Therefore, as a result of increased global demand, geopolitical tensions, and a declining US dollar we are currently experiencing record high gasoline prices even when adjusted for inflation.
Notes:
- Which way are energy prices headed and what does it mean for interest rates and the stock market? Find out with the exclusive charts of Chart of the Day Plus.
Source - U.S. Energy Information Administration
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Quote of the Day
"To keep a lamp burning we have to keep putting oil in it." - Mother Teresa
Events of the Day
May 03, 2008 - Kentucky Derby
May 05, 2008 - Cinco de Mayo (Mexico)
May 06, 2008 - National Teacher Day
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May 14, 2008 - Cannes Film Festival begins (ends May 25th)
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