Oil heading higher

As predicted the price of oil is going up. Gasoline is going up even faster. Last month regular at the pump was as low as $1.87/gallon and now it stands at $2.39/gallon and rising. I predict that it will soon pass the magical three dollar mark.

This will reduce profits for companies and slow down the economy. We will see a return to higher inflation triggered by high oil prices. Analysts say that the current prices of of at $58/b is high and that it will hold under sixty.

Don't believe it. The current crisis in Nigeria, the sixth largest petroleum producer in the world is fueling this price increase. Expect prices to continue upward.