Crude oil hits new record high as gas prices continue to rise

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Rev 6:6 NAS “And I heard something like a voice in the center of the four living creatures saying, “A quart of wheat for a denarius, and three quarts of barley for a denarius; and do not damage the oil and the wine.”

Important Takeaways:

  • Gas prices surge 25 cents in a week, hitting new record
  • There are now 10 states where the average price of gasoline is $5 a gallon or higher, with the latest being Michigan and Indiana. Washington, DC, is also above $5, according to CNN.
  • Georgia is the only state with an average below $4.30 a gallon.
  • Veteran oil analyst Andy Lipow told CNN he expects the national average to hit $5.05 a gallon in the next ten days.
  • US crude jumped to a fresh three-month high of $120.99 a barrel
  • Mark Zandi, chief economist at Moody’s Analytics “If oil prices go to $150, we are going into recession. There is no way out”

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