Oil Ends Year Up Over 30% From 2003

[jeffrey]

While oil prices have eased back over recent weeks, oil ended up 33.7% higher at the end of 2004 than at the end of 2003. Over the entire year, oil prices fluctuated wildly starting the year at $32.52 a barrel while reaching an all-time high of $55.67 in late October over concerns over tight supplies heading into the winter months.




Prices have fallen over the past couple of months due to signs of growing oil supplies and weaker fuel demand. While oil and gas costs are not looking nearly as dire as they were a few months ago, and a thus far mild winter in many parts of the country has helped, the large price increase is still sure to put pressure on the pocketbooks of consumers. Taking measures to make your home is energy efficient and to save on gasoline consumption will pay off for your finances with the New Year.