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Inflation Puts High Crude Oil Prices in Perspective

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Inflation Puts High Crude Oil Prices in Perspective

Inflation Puts High Crude Oil Prices in Perspective

Inflation Puts High Crude Oil Prices in Perspective

  • Download
  • <iframe src="https://www.npr.org/player/embed/1897035/1897036" width="100%" height="290" frameborder="0" scrolling="no" title="NPR embedded audio player">

NPR's Jim Zarroli reports oil prices continued their upward climb Friday. The benchmark U.S. "light sweet crude" hit $41.50 a barrel. The price oil is fetching now is frequently described as a record — but allowing for inflation, prices are about half those during the oil price shock that followed the 1979 Iranian revolution.