CNN The Lead With Jake Tapper October 12, 2021 20:50:00
Mid-september, 3$3.17and now up in just a month. pete muntean is with us. what is driving this spike? >> the price of crude oil is up. just closed at higher than $80 a barrel. the highist est it's been in th last seven years and could be as high as $85 or $90 a barrel by the end of this year. the point is from aaa, we are only just seeing the start of these high prices. >> what people should know, this is not a shortage. people think prices are going up. there must be a shortage. we have plenty of supply. there's plenty of oil. it's just that the price of that oil is going up. >> reporter: the...
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