Crude oil now trades at over $112 per barrel and, as the below illustration shows, the cost of one gallon of gasoline has just surpassed the inflation-adjusted peak of 1981. They say this is due to increased global demand, geopolitical tensions, and a declining US dollar. I would say it is primarily due to #1 & #3 with speculation in there as well. If we were to show a concerted effort towards balancing the U.S. Budgets the $$$$ would appreciate and commodity prices would come down quickly
Source: http://Chartoftheday.com <---Check out the free service. Great info. to empower yourself!