Surge in gasoline price boosting cost of goods and services

08 Mar

By Gregory Karp, Becky Yerak and Alejandra Cancino, Tribune reporters

Chicago Tribune


Soaring gasoline prices are expected to remain painfully high, affecting nearly every aspect of the economy, from how much consumers pay for many goods to, in some cases, how much they earn.

Oil prices rose Monday to a 29-month high in New York as escalating violence in Libya bolstered concern that supply disruptions may spread. The price of a barrel of oil in the U.S. was more than $105, up 29 percent from a year ago.

(Read more)


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