Rising cost of crude oil pushes prices higher on a slew of consumer products

A

ASusilovic

Let the consumer beware: Costs are going up on almost everything the average American family consumes.
Blame it on crude oil. The rocketing price of crude oil is not only sharply hiking the costs of fueling the car and heating the home, but is bidding up prices on the raw materials that go into goods from produce to perfume.

At the same time, the push to develop ethanol as an alternative fuel through corn and similar products is inflating the cost of feed for cows, pigs and other farm animals - and that also increases the prices consumers pay.
"Oil affects everything from top to bottom," said Phil Flynn, energy analyst at Alaron Trading. "Most people wear crude oil every day."
Crude-oil futures toyed ever-closer to the $100-a-barrel mark this week, hitting $96.70 on Tuesday before dropping to $95.46 on the New York Mercantile Exchange on Thursday.

http://www.marketwatch.com/news/sto...x?guid={BB5FACF8-DF6E-4E7F-A19F-E9F952002268}
 
Quote from ASusilovic:

Let the consumer beware: Costs are going up on almost everything the average American family consumes.
Blame it on crude oil. The rocketing price of crude oil is not only sharply hiking the costs of fueling the car and heating the home, but is bidding up prices on the raw materials that go into goods from produce to perfume.

At the same time, the push to develop ethanol as an alternative fuel through corn and similar products is inflating the cost of feed for cows, pigs and other farm animals - and that also increases the prices consumers pay.
"Oil affects everything from top to bottom," said Phil Flynn, energy analyst at Alaron Trading. "Most people wear crude oil every day."
Crude-oil futures toyed ever-closer to the $100-a-barrel mark this week, hitting $96.70 on Tuesday before dropping to $95.46 on the New York Mercantile Exchange on Thursday.

http://www.marketwatch.com/news/sto...x?guid={BB5FACF8-DF6E-4E7F-A19F-E9F952002268}
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If we go to war with Iran, things will only become worse. I just hope people are not as stupid as they were when our Gov't told us that we have to invade Iraq, and most people beleived them. Now if we let Bush invade Iran, then we deserve everything that happens to us. We should not blame anyone but ourselves for being dumb enough all along
 
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