Falling dollar a big factor in the rise of oil
While supply, demand and speculation are factors in the cost of gas at the pump, the weak dollar is also an important factor. As long as the value of the dollar is going down, the cost of oil will be going up. (“Speculating on why oil prices are soaring,” Consumer Confidential, June 25.)
At a gas station between Highland Park and Pasadena, a sign on a pump read: “Sorry, temporarily closed for gasoline due to expensive fuel prices.”
Stuart Rapeport
Los Angeles
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