Ben S Bernanke: Oil and the economy (Central Bank Articles and Speeches)
نویسنده
چکیده
If you have regular occasion to fill your car’s tank with gas, you know that the price of gasoline has recently been both high and volatile a consequence, for the most part, of similar movements in the price of crude oil. The weekly average price for a barrel of West Texas intermediate, a standard grade of crude oil, hovered around $30 during the second half of 2003 but began to rise around the turn of the year. The price per barrel reached $37 in March and nearly $41 in May. Oil prices have continued to rise erratically since the spring, even as other commodity prices have generally stabilized and overall inflation has been low. As of last week, the price of a barrel of West Texas intermediate stood at about $55.
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