Posted on 05 Jun 2008 08:07:25 Thu

DrumBeat: June 5, 2008

Beyond gasoline: Prices surge for oil-based goods New York - Besides gasoline, the Department of Energy calculates, there are 57 major uses of petroleum – everything from cosmetics to ballpoint pens, nylons, and even the waxes in chewing gum. That is why the effect of high oil prices is now spreading well beyond the pump, where gasoline hit another record price of $3.98 a gallon on Wednesday. Now, consumers will have to brace themselves for other higher costs, since businesses such as Kimbe...

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