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Lions and Tigers and $4 Gas, Oh My!

MarketWatch reports the US Energy Department says there is an 8-10% chance of $4 gas in August and September and a 25% chance of $3.50 gas in the summer. Diesel prices could rise 14% this year.

“Fuel prices are rising strongly across the board on the back of the robust-looking gains that have been seen recently in the crude-oil market,” said Matt Parry, senior oil consultant at KBC Process Technology Ltd. “Not only that, but recent months have enjoyed a consistent thread of surprisingly strong demand metrics right across the globe.”

Crude oil is trading at $90/barrel (in part due to the Alaskan Pipeline problems)

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