Industry Experts Disagree On Why Crude Oil Prices So High

www.ktul.com Sunday February 16, 2003 11:50am  

Gas Prices Continue To Rise Amid Political Unrest, Talk of War Oklahoma City (AP) - Industry experts can't agree on why crude oil prices are high or even when they might return to levels considered normal. Some analysts say there is plenty oil supply and the perceived threat of a war with Iraq is driving the price up. Others say the 11-week strike of Venezuela's oil workers is to blame. Whatever the case, Oklahomans are feeling the pinch. In Oklahoma, diesel fuel is less than a penny away from breaking its record high of a dollar-58, which was set in June 2001. Oklahoma has the second-lowest statewide average for regular unleaded gas which is at a dollar-54. The price has gone up nearly 20 cents in the past month. But it's still below the record high of a dollar-73 set in June 2000. A year ago, regular unleaded gasoline averaged a dollar and four cents in Oklahoma.