We are slowly getting our heads round the constant rises in gas and electricity, but are we ready for oil to soar to $200 per barrel in as little as six months? If you can’t quite work out how that affects us all, then the BBC News online has summed this up for us:
“Oil prices have now risen by 25% in the last four months and 400% since 2001. ”
The BBC states that Goldman Sachs energy strategist Argun Murti successfully predicted rises three years ago to pass the $100 mark when at a price of $55.
This article makes for a very interesting insight into the global demand, driven by the booming expansion of countries such as China and India. Throw them in to the pot with existing demand from the US, the European Union and Japan, it can only get worse as time goes on.
If you are interested to know why these prices are so hi then take a look at this from the BBC