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GORDA, Calif.- If you're going to be heading down the Big Sur Coastline anytime soon, you'll probably going to want to have a full tank before you leave with the price of crude oil skyrocketing. With gasoline following the same direction, the Americo gas station in Gorda, just south of Big Sur is selling premium unleaded gas for $5.39 a gallon. If you can do without premium regular's a relative bargain at $5.19.
"We may not have seen the worst of it yet," Comey said. "It's particularly troubling from the consumer's perspective that this is happening at this time of the year, when we often see prices that are relatively low."
OPEC will not put more oil on the global market, citing the stumbling U.S. economy as the reason for slackening demand in the near future.
The Organization of Petroleum Exporting Countries announced today that it decided not to pump more - or less - oil right now because crude supplies are plentiful and demand is expected to weaken in the second quarter.
Crude May Rise to $120 in Six Months, Taqa CEO Says (Update2)
By Glen Carey
March 4 (Bloomberg) -- Crude oil may rise to $120 a barrel within six months due to the dollar weakness and global political tensions, the chief executive officer of Abu Dhabi National Energy Co. said.
``I think a trading range between $80 and $120 a barrel this year is about right,'' Peter Barker-Homek, the head of the United Arab Emirates state-controlled company, which is also known as Taqa, said in an interview in Dubai today. ``But with the softness of the dollar, and the occasional interruptions that you have because of politics, I think we could see $120 oil.''
The flight from Chicago to London meant that the plane, a Boeing 777, used 22,000 gallons of fuel.
American Airlines: plane flies from US to London with 5 onboard
Friends of the Earth said it was 'obscene' to waste so much fuel flying an almost empty plane
It led to American Airlines being accused of reckless behaviour by green lobby groups.
The latest "eco- scandal" flight took place on February 9 after American was forced to cancel one of its four daily services from Chicago to London.