Oil price increases of 2004 and 2005

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The price of light, sweet crude oil on NYMEX was under $25/barrel in September 2003. By August 11, 2005, the price had been above $60/barrel for over a week and a half. A record price of $70.85 per barrel was reached on August 29, 2005.http://www.nzherald.co.nz/category/62/story.cfm?c_id=62&ObjectID=10345160 While oil prices are considerably higher than a year ago, they are still far from exceeding the inflation-adjusted "peak of the 1980 shock, when prices were over $90 a barrel in today?s prices" .

Related Topics:
Crude oil - NYMEX - August 11 - 2005 - August 29

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In the United States gasoline prices reached an all time high during the first week of September 2005 in the aftermath of Hurricane Katrina. The average retail price was nearly $3.04 per gallon. The previous high was $1.38 per gallon in March 1981, which would be $3.03 per gallon after adjusted for inflation.http://www.washingtonpost.com/wp-dyn/content/article/2005/09/11/AR2005091100724.htmlhttp://news.yahoo.com/s/ap/20050911/ap_on_bi_ge/gas_prices

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