Getting your player ready...
NEW YORK — Gas prices jumped to unprecedented levels in the wholesale markets Thursday as Hurricane Ike threatened to hit Texas and its refineries. Crude oil on the futures market, however, sank below $101 a barrel to its lowest settlement price since late March — a sign investors are still worried about waning global demand.
The wholesale price of gas ranged from $4 to nearly $5 a gallon in the Gulf Coast Thursday, said Tom Kloza, publisher and chief oil analyst of the Oil Price Information Service, up significantly from about $3 to $3.30 a gallon Wednesday.
