Wednesday, November 7, 2007

$100/barrel

It is still very fresh in my memory. It was the last week of the year 2000. I was driving a rented Ford Mustang from Virginia to Florida. We stopped near Savannah, GA for the night. I filled gas at a gas station right off the highway for 93c a gallon. I told myself that it was the lowest I had paid for gas, till that date. I had been in the US for about a year and was accustomed to paying about 99c per gallon. I wish I had preserved that receipt! I could have shown it to my son at a later date. Little did I realize that the prices were going to go only north from that point. Nowadays, I pay about $3.20 per gallon. I have seen the price go up by about 50c over the last three weeks. Price of crude oil is set to cross $100 per barrel tomorrow, having risen by $35 per barrel in about six months. How this is going to affect other aspects of our life, is anyone's guess. Welcome to economy 2.0!!!

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