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| 1. |
I want a speech on (impact of rise in prices of petroleum products) |
| Answer» Over the past months, headlines have almost daily recorded the ever increasing price of oil. Businesses and consumers around the world have watched as the price of oil approached $50 per barrel, fell back to $43, and now is surging toward $55 per barrel.How dramatic are the price increases? What is causing prices to increase? These are the questions this article will address.How Dramatic is the Increase?Prices have increased—rapidly and unrelentingly. But how high are they? The price of a barrel of oil surged 38 percent from August 2003 to August 2004. Crude oil for current delivery on the New York Mercantile Exchange closed at $53.64 a barrel on October 13, 2004, far eclipsing the previous record of $41.15 set in October 1990. Crude oil had previously approached $40 a barrel in the early 1980s. | |