Petrol prices posted by zx299 on April 21, 2011 at 01:44 AM
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not the primary cause of recent price spikes; it is the US dollar being devalued. Other nations are beginning to worry about our high debt load and our ability to repay their T-Bill notes. They don't have as much faith and trust in the US dollar, sic. It is worth less than before. The other major factor is unrest in the Middle Eastern oil region. Both of these cause speculators in the world's oil markets to jack up option prices on the fear that one or both will cause long-term shortages.