Oil prices briefly surpassed $103 a barrel for the first time today as persistent weakness in the U.S. dollar and the prospect of lower interest rates attracted fresh money to the oil market. AP
We appear to be locked in a trend. Dollar down so it costs us more to be dependent on foreign oil. Money is flowing into oil because everything else to invest in isn't working. Higher oil pushes up prices/costs in general. The economy erodes....
....so there isn't much to invest in; more money goes into oil
and then more money goes into oil
And it will push higher and higher, until there is a drop in demand either by alternative or a global economy grinding to a halt.
Look for an increase at a gas pump near you.
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