Word: skyrocketing
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Dates: during 2000-2000
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Economic self-interest - and a good deal of prodding from a White House worried about spoiling Democratic election prospects in the fall - looks likely to impel OPEC to finally curtail spiraling oil prices. Fuel costs began to skyrocket last March when the group implemented a 7.5 percent cut in crude oil production that was also respected by nonmember oil-producing nations. The Clinton administration has been hands-off until now, saying it'd let the market self-adjust, but prices have just hit a nine-year high - with American emergency crude oil stores at a 25-year...