Oil getting close to $120, gas prices following upward trend

Photo by Jurek D. Licensed under Creative Commons license 2.0.

I doubt there are any regular readers of AutoblogGreen who need a reminder as to why greener cars are not only cool but, increasingly, vitally important for the pocketbook. The AP is reporting that a new series of small issues somewhere in the world - in this case there is unrest in Nigeria and a refinery strike in the UK, but it could really be anything and the important thing to note is just how little it takes to spook the skittish market - have driven the price of a barrel of oil to just under $120. Yes, that's a new all-time high. As for the price at the pump for American drivers, that's up, too. The latest U.S. government estimates for average gasoline retail prices, from April 21st, peg the number at $3.51. This is up 64 cents from a year ago. Ok, that's your reminder. Did you need it?

[Source: AP]

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