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With fuel prices continuing to rise, demand has yet to let
up. According to the US Department of Energy, drivers used 2.9% more fuel last week than a year ago while
at the same time, AAA reports that fuel prices are up 9 cents from the same time last year. Analyst Phil Flynn
says that “We’re still in a very volatile situation”, which is a nice way of saying that price shocks are a
possibility if demand doesn’t let up. Unless demand for oil drops or additional capacity comes online, we’re likely to
be reporting this type of news for a long time.