There is no relief from the pumps in the forecast… AP News is reporting that oil prices closed at a record high today.
Crude oil prices settled at a new high above $62 a barrel on Friday, rallying late in the day on concerns about refinery snags and following the release of a positive U.S. jobs report.
Light, sweet crude for September delivery rose 93 cents to close at $62.31 a barrel, a nominal record for crude since trading began on the New York Mercantile Exchange in 1983. The previous settlement high was $61.89 a barrel set Tuesday.
Oil futures rose as high as $62.45 on Friday, a nickel shy of the intraday peak set earlier in the week.
Gasoline futures rose 2.99 cents to settle at $1.8322 a gallon, while heating oil rose 2.34 cents to $1.7312.
This news makes me want to ask the question, “How are you spending your summer vacation?”
Are the prices at the pumps hurting your summer plans for fun in the sun?
Out here in the Los Angeles area, I believe we have some of the highest prices at the pumps of any where in the country. What annoys me most about this is that oil companies are setting profit records while we’re digging deeper.
Is the record breaking heat wave keeping you home bound with AC turned up high?
And the heat wave… well let me just say that Global Warming comes to mind. I’ve lived in Los Angeles for 15 years now, and the humidity level has risen to record highs. I might as well be back on the coast of MA with the oppressive humidity we have experienced here in the past few weeks.
Chime in if you have some thoughts on how the gas prices are affecting you and how you’re staying cool this summer…