No end in sight for rising oil costs

THIS time last year, when the price of oil was about $68 per barrel, the debate was whether or not the price could rise above the $100 mark, with the general feeling that such an event was unlikely.

Now, questions surrounding how long it may take for prices to top the $200 mark are not uncommon — even though most commentators do not foresee a huge increase in the coming months.

Since last August, oil prices have more than doubled — at one point reaching $150 per barrel.