What Is Behind the Spike in Gas Prices? ...Middle East

The price of oil in the United States has soared by 70% since the November election—the largest post-election gain since oil futures first began trading. As a result, the price of gasoline—which is made from crude oil—increased by 27%, from $2.25 per gallon at the beginning of the year to $2.85 per gallon this week. A barrel of crude oil is currently worth around $60, and Goldman Sachs forecasts that U.S. oil prices will average around $72 a barrel in the third quarter, with some analysts predicting that they could rise to $100 in the next 6-12 months. [A]fter a five-month-long slump, the American economy is roaring back to life. This dramatic growth may appear all the more surprising in lig

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What Is Behind the Spike in Gas Prices? ...Middle East

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