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Oil price sets another record

Global crude oil prices touched a whopping price of $109 a barrel on Tuesday, setting another record.

The White House says that soaring oil prices are “not going to be solved overnight” and there is “No Quick Fix for Oil Prices“, Presidential spokeswoman Dana Perino said Tuesday, reported Associated Press.

With oil price is in the $110 mark, how much higher oil prices can go is not predictable.

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