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Jan 3
Oil Tops $100 a Barrel

Today the price of oil per barrel surpassed the $100 mark three times alone.  Violence in Nigeria helped the price surge above the noteworthy amount.  Investors are also reviewing a government report that puts crude inventories at their lowest level since early 2005.  The US government also said that it will not release oil from the strategic supply either to help reduce prices.    

The nationwide average puts the cost of gasoline at $3.05 per gallon.  And many airlines are feeling the pinch too.  Many airlines continue to tack on fuel surcharges. 

Many airlines are not able to cope with $60, $70, $80, $90 aviation fuel prices.  A few airlines such as Southwest are better suited because they are able to purchase fuel at prices significantly lower than the current market prices.  Higher fuel prices will only lead to the grounding of less fuel efficient aircraft and fuller planes.   

MSNBC.com  

CNN Video Link 

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