- Title: USA: High oil prices sparks truckers' protest on Capitol Hill
- Date: 29th April 2008
- Summary: VARIOUS OF NYMEX TRADERS ON TRADING FLOOR
- Embargoed: 14th May 2008 13:00
- Keywords:
- Location: Usa
- Country: USA
- Topics: Economic News,Domestic Politics
- Reuters ID: LVA59C4BA9ABQ0QSQKWL4RC17K6W
- Story Text: Oil hit a fresh peak near $120 USD a barrel on Monday (April 28) as supply outages in Nigeria and Britain shut down nearly 2 million barrels per day (bpd) of output in the Atlantic Basin.
Crude prices have surged more than fivefold since 2002 and are up almost 25 percent since the start of the year as global supplies struggle to keep pace with rising demand in emerging economies, such as China.
A weak U.S. dollar has also attracted investors into commodities markets, analysts have said.
Hundreds of truck drivers descended on Washington on Monday blasting horns and snarling traffic to protest high gasoline prices..
Truck drivers want legislators to end subsidies to oil companies and release strategic petroleum reserves in an effort to lower fuel prices.
Truck Driver Michael Carter told Reuters Television
"Trying to get this fuel down so we can make it. We can't pay our bills, we can't run these trucks on the fuel prices. Thy're going up every day."
The truck drivers came from cities along the east coast to stage the one day protest. - Copyright Holder: REUTERS
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