Pain Beyond The Pump

News
Wednesday, March 9, 2011 - 10:11am

Rising oil prices mean you'll be paying more for a wide range of products.

The rising oil prices aren't just changing the prices at the pump.

Bike tires, footballs, clothes and even the plastic buggies we shop with are all petroleum products.

The American Petroleum Institute says 22 percent of what's in a barrel of oil goes to petroleum products.

As oil tops $105 a barrel, the price of those things we find at the store or in our purses go up.

API representatives say although the prices will go up on the products, it's hard to tell how much because every product has a different supply and demand.
 

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