Oil prices peaked to US$147 per barrel in July 2008, and slid to less that US$40 in December 2008. When oil hit a record $147 a barrel in July, speculators were blamed as the culprits, as their investtment dollars increased price volatility to an extent that price of a barrel of oil moved up by over US$110 in just six months.
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Monday, December 29, 2008
What mainly drove up oil and gasoline prices in 2008?
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