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A Tipping Point for Oil Prices

The days of $100 a barrel oil are back. Most economists think that this price level, while high by historical standards and an impediment to growth, is not high enough to completely derail the economic recovery. We are still below a national average price of $3.50 for regular gasoline, the price at which consumers are thought to get worried and rein in their discretionary spending. The average national price is now $3.29 according to A.A.A., roughly 18 cents higher than a month ago and 50 cents higher from a year ago.

2/26 NY Times