by John Carney at Breitbart News
A barrel of Brent Crude rose to $72.88, the highest price since October of 2018. West Texas crude was trading around $70.90, also the highest since October of 2018.
Crude prices have been persistently climbing this year as global demand rises and U.S. investment in oil production is stymied by the Biden administration’s anti-fossil fuel policies.
Gas pump prices hit $3.08 on Monday, three cents higher than a week ago.
“Motorists are paying, on average, 37 percent more to fill up than the start of the year,” said Jeanette McGee, a spokesperson for AAA. “Prices for the rest of the month are likely to push more expensive, but if crude production increases, as forecasted, there is the possibility of seeing some relief at the pump later this summer.”
Not everyone agrees that prices are likely to come down. Analysts say…
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