With the recent conflicts in the Middle East and North Africa, gas prices have hit an ominous milestone.
Since the turmoil in Libya broke out in mid-February, the price of crude oil has jumped roughly 20% to more than 104 dollars a barrel, pushing up prices at the pump as well.
In some areas, gas prices are as high as four dollars! Problem is that according to the International Energy Agency, Libya has halted between 850,000 and 1.0 million barrels per day (bpd) of the country’s total of 1.6 million bpd.
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