May 23, 2008

Bad News: Oil hits $130 a barrel!

As if things were not bad enough for everyone the price of a barrel of oil has now reached the heady heights of $130, meaning that the price of fuel is going to be more expensive as well as everything associated with it.

So it not only means that petrol goes up, but because food and everything else needs to be transported around the country, it will follow that everything that is driven around will be facing extras costs.

Unfortunately for the ordinary person in the country who has no choice, they are going to be the ones who are picking the extra costs, and even if we are talking about £10 or £20 per week, where people are already struggling this could be the final straw.

To make things even worse, it is predicted that a barrel of oil could reach $180!

Source [Fortune Watch]