The High Cost Of Oil…OLIVE Oil

Everyone’s always concerned about the price of oil because we need it to heat our homes and gas up our cars. But that’s not the only costly oil causing extra stress these days. If you like to cook, you have to deal with the record-high price of olive oil. Global prices of olive oil recently surged 100% to an all-time high, and it’s due, in part, to severe droughts in major olive oil-producing countries like Spain, Greece and Italy. All three countries experienced record heat this summer. Another cause for the price spike is another olive oil producing country Turkey, which has suspended bulk olive oil exports until November 1st.