Oil hits $100 as US economy slowly improves - WSJ.com: Still, if oil holds above $100 per barrel for long, gasoline will inevitably rise from a national average of $3.402 on Wednesday. Analysts are already predicting pump prices above $4 per gallon in the spring.
It's tough to say how high oil will go.
After a similar surge in the spring, prices fell in April from this year's peak near $114 per barrel on fears of another U.S. recession and as industrialized nations planned and later released emergency supplies.
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