|The price of a barrel of crude oil has traded sharply higher over the past 4 1/2 months and currently trades above $91 as a result of continued geopolitical tensions and oil suppliers struggling to keep up with demand. With oil prices trending higher, it is not all that surprising to find that gasoline prices are following suit. Since the financial crisis lows at the end of 2008, the average US price for a gallon of unleaded has risen $1.42 per gallon. When adjusted for inflation, gasoline prices are once again above three dollars per gallon -- a level not often seen over the past three decades.Notes:
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Quote of the Day"The Stone Age didn't end because they ran out of stones; the Oil Age won't end because we run out of oil." - Don Huberts
Events of the DayJanuary 16, 2011 - Golden Globe Awards
January 17, 2011 - Martin Luther King Jr. Day (observed) - Australian Open Tennis Tournament begins (ends Jan. 30th)
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