Oil Prices Spike Up To New Record High: $129 A Barrel

Oil prices have spiked to a new trading high, sweeping past $129 a barrel.

Prices are currently being driven higher by supply concerns. This latest surge comes after OPEC's President was quoted as saying his organization won't increase its output before its next meeting in September.

Over the last month, a gallon of unleaded has shot up more than thirty cents nationwide. Traditionally, gas prices peak over Memorial Day.

Yet, some oil analysts predict seven dollars a gallon down the road. Some reasons: the sagging dollar and rising international demand.


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Comments are posted from viewers like you and do not always reflect the views of this station.
  • by crystal Location: knott co. on May 20, 2008 at 07:58 PM
    Did not Mr. Bush take a trip to the middle east? Now come on mr. shiek we need that oil price up higher. lol I'am getting kicked out of office, please mr. shiek raise the price to $150.00 a barrel by june, YPARTNER THEM CRAZY AMERICANS THEY JUST KEEP ON PUMPING LOL Bush the lowest American president there ever was( no joking)( no LOL) the whole thing makes me sick.
  • by RALPH Location: PIKEVILLE on May 20, 2008 at 04:38 PM
    VOTE DEMOCRATIC, WHY? THIS ALL STARTED WHEN THE DEMOCRATS GOT CONTROL OF BOTH HOUSES IN THE LAST ELECTION.
  • by hill Location: ky on May 20, 2008 at 04:08 PM
    gas price ant the only things going up electric, phone, car insurance food, robbiers, thefts all is just out of control and alot dont even seem to care. people that have to work and i mean work for there money cant afford to keep running on little pay and having to pay higher bill, gas and food are going to get to where they are going to quit. i know that im having alot of thing removed from my everyday live that i dont think is important by giving my money away for them to keep raising prices when ones that ssi, ss. and afdc and food stamps live it up i should quit and start getting me a check to and then dont have to worry about throughing money that is so hard worked for away ill use the states like everyone else. it going to come down to a whole lot more people robbing, stealing and killing for things and nobody wants to fit for what theres. maybe the drug selling will drop cause no one will have money it all your lose
  • by Anonymous on May 20, 2008 at 02:04 PM
    Amen Bill! Vote democratic!
  • by Jules Location: Lexington on May 20, 2008 at 12:50 PM
    Is it just me or has anyone noticed that the price of gas keeps going up and the quality of the gas keeps going down? I filled up my car at the same station that I always frequent and my car now is acting like I put watered down gas in it. Took it to the mechanic and they said I put "bad gas" in it. Not only did I have to pay an arm and a leg for gas, now I have to pay it again for the mechanic and more gas! Something has got to change!!
  • by Doug Location: London on May 20, 2008 at 12:46 PM
    One thing will help, don't know if it will solve the problem or not. But it can't hurt. STAY AT HOME AND OFF THE ROADS!!!!!!!!!!!!!!!!!
  • by sarah Location: isom on May 20, 2008 at 11:43 AM
    If I owned oil companies like the Bush and Chaney gang $4 a gallon would be good news.
  • by tyler Location: isom on May 20, 2008 at 11:05 AM
    Bush and his wonderful energy policy,what a shame and to think McCain wants to follow this path of distruction makes me glad I'm a democrat.
  • by Chis Location: Neon on May 20, 2008 at 10:47 AM
    Good, now we can all sit at home. Maybe raise a garden, build me an outhouse and fix me some 'shine.
  • by jennifer Location: powell county on May 20, 2008 at 10:11 AM
    Guess Bush is trying to get all he can before the end of his term.
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