“Filling up your car, taking a trip, even buying groceries could get considerably more expensive as oil continues its climb toward $100 US a barrel. Today’s crude oil prices hover around $90 US a barrel, up from an average $79 in 2010.”
So began an article in the Jan. 24 issue of The London Free Press.
Surprised? Not likely, if you’ve been watching the price of oil rise steadily over the last ten years.
For those that haven’t, below is a list of the average price per barrel in US dollars for the years 2001 to 2010.
2001 - $24.30
2002 - $25
2003 - $29
2004 - $38
2005 - $53
2006 - $64
2007 - $71
*2008 - $97
2009 - $62
2010 - $79
(*2008 was a horrendous year, oil-wise, as you may recall. Average monthly prices rose to $110 or more for 5 months (over $130 for two months) and the year’s average ended at $97).
Though today’s crude oil prices hover around $90 US a barrel ($91.91 at price of oil.org) and a trunkload of groceries may soon cost more than we like, we should have seen this coming a mile off.
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Are you prepared for higher oil prices?
More of the Oil Barrel here.
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