Petrol price unlikely to fall again as Opec warns on supply
http://www.guardian.co.uk/business/story/0,3604,1275310,00.html
Ashley Seager
Wednesday August 4, 2004
The Guardian
With oil prices setting fresh highs on a daily basis, experts are
warning that the current spike in prices may not be followed by the
sharp falls that have often come after previous jumps. They say dearer
oil could become a fact of life, spelling further pain for motorists
already paying more than 80p a litre at the pumps.
The price of US light crude hit a new record yesterday of $44.24
(£24.23), the highest in the 21-year history of the New York
Mercantile Exchange. In London, Brent crude surged to $40.45, half a
dollar below the all-time high set in October 1990 during the run-up
to the first Gulf war.
Ashley Seager
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