[gogogodzilla]

Dunno, the price of oil ramped up from $62~ per barrel to $74/barrel pretty easily.

And it doesn't look like the price will fall back to the $62~ per barrel range anytime soon. So the next time the Mad Mullah or the Venezualan Virus speaks, I'd expect the market to follow it's consistant pattern, which is to raise the price of oil.

So the $74/barrel goes up again and holds at that price. Repeat ad nauseam.

[RayChuang88]

They can't maintain those prices for long--period. Recent US government statistics show that the increase rate in gasoline usage normal at this time of the year is quite a bit lower than what happened last year, which tells me gasoline is more an economically elastic (e.g., price sensitive to consumer) product than people think. If the trend continues of lower gasoline usage expect price cuts by mid-summer because the petroleum companies can't keep all that high-priced crude oil sitting around.