The following is adapted from $20 Per Gallon: How the Inevitable Rise in the Price of Gasoline Will Change Our Lives for the Better by Christopher Steiner, Grand Central Publishing (2009). It was originally published on Forbes.com.
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Oil
Oil prices dipped below $90 a barrel yesterday — roughly the same price as a year ago, before airline charged passengers for everything that wasn’t bolted down on their planes. Energy costs, the stated reason for all of these new fees, are expected to fall further this week. But are the new surcharges here to stay?
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According to Stratfor.com the price of oil should begin falling this year. Most of the geopolitical factors driving the price oil are stabilizing, the U.S. dollar is expected to rebound and new oil resources are coming online.
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United Airlines will raise its domestic fuel surcharge by $10 to $20 roundtrip. The move piggybacks a fare increase announced less than a week ago.
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The price of oil climbed to a record-high $103.05 per barrel before dipping to $102.07 on Friday.
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