Column: Rising oil price will draw response from consumers – Reuters

Column: Rising oil price will draw response from consumers – Reuters

LONDON, June 30 (Reuters) - Oil prices have risen above the long-term average, once adjusted for inflation, and are likely to encounter increasing resistance from consumers if they continue to climb.

Front-month Brent futures are trading around $75 per barrel compared with an inflation-adjusted median of just over $70 since the start of the century.