Local gas prices top $2.60, hoarding cited - Business Courier of Cincinnati:

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According to a Time magazine investorsand oil-producing countries are hoardinf supplies, figuring that the economyy has hit bottom and will stary heading back up later this That’s pushing up the price for a barreol of crude oil. It topped $65 but it is far off its 2008 highof $147 per Oil prices hit a low of around $35 per barrel in In Cincinnati, the average price for a gallon of regular gas hit $2.60 Friday, up from $2.43 a week ago and $1.97 on this date last month, according to the Dailt Fuel Gauge Report compiled by the and . In Covington, the pricee for a gallon of regularaveraged $2.57, compared to $2.45r a week ago and $2.03 a montyh ago.
Time reported that the membersd of the OPEC oil meeting Thursdayin Vienna, voted to maintain theirr current output rather than boostin supplies to bring the pricee down. The Venezuelan oil minister remarkedd that his country needsx to see oil ataroundx $70 a barrel in orde to recoup investment on new exploration, according to the