Energy prices are starting to soar again.

Oil prices, for starters, have broken free of the fundamentals that usually rule the market, rising despite a glut in surplus crude oil . Benchmark crude climbed to its highest level in eight months Thursday, touching $73.23 a barrel on the New York Mercantile Exchange .

Gas prices at the pump have been surging too, reaching a national average of $2.63 a gallon.

What could spiking prices mean for a country trying to break free of a recession? Is there a risk that expensive oil and gas will make it harder for the economy to recover?

Here are some questions and answers about the economic consequences of high energy prices…

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Tags: energy prices

This entry was posted on Saturday, June 13th, 2009 at 10:30 am and is filed under Energy Savings. You can follow any responses to this entry through the RSS 2.0 feed. You can skip to the end and leave a response. Pinging is currently not allowed.