Oil Prices Have 26-Month High, Expected to Rise More

Charleston Gazette › January 04, 2011

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Summary

Oil prices rose past $92 a barrel on Monday to a 26-month high, as the new year began with the prospect of still higher energy prices to come.

Benchmark oil for February delivery rose as high as $92.66 a barrel, $1.20 above Friday's settlement price, in trading on the New York Mercantile Exchange. It gave up most of those gains to settle 17 cents higher at $91.55 on Monday. The last time oil settled above $92 a barrel was on Oct. 3, 2008, when it reached $93.88.

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Oil Prices Have 26-Month High, Expected to Rise More

At the pump, the national average for regular gasoline was about $3.07 a gallon on Monday, according to AAA, Wright Express and the Oil Price Informa...

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