When exactly did oil prices originally start going up?

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Invasion of Iraq in 2003 caused speculators to dump 64 billion US dollars into oil futures market simply because it was viewed as a potential threat to supply.
After that, the falling US dollar value drove speculators to drop more cash into oil futures and other commodities, pushing their prices up, while the falling dollar was already having its effect on the price of world traded commodities.

Oil prices go up, gas prices are going to go up. If gas prices go up, eveything else goes up with it, since it increases the cost to produce and transport goods and services.

Oil prices also jumped when Clinton bombed those terrorists camps in the middle east but prices started to fall again after it was clear there was going to be no major conflict.

lesson you should have learned:
Anytime you drop bombs on the ground above oil, the price is going to shoot up....Show more

Actually, oil and gas prices rose in 2000. Gasoline was just 98 cents per gallon in 1999. They increased a significant amount in 2000, and Al Gore demanded an investigation. Turns out it was just supply and demand......Show more

I can remember when the price of oil tripled in one year, gas also tripled that year. Im talking about the Carter years.

gas was about $0.25/gal then ran up to $0.75/gal those were tough times let me tell you.

I have little confidence that Obama will not return us to the days of double digit inflation, double digit unemployment and double digit interest rates....Show more

I remember it going up significantly at about 500 pm on sept. 11 2001...Show more

Oil prices started to go up about the time Henry Ford introduced his smoking, choking automobile. (Jerry R. Hubbard's words, not mine.)

Supply and demand dynamics are not a new thing....Show more