Ahmadinejad Says Oil at $115 a Barrel is Too Low, Calls for Higher Prices

TEHRAN, Iran (foxnews) -- Iran's hard-line President Mahmoud Ahmadinejad was quoted Saturday as saying crude oil prices at $115 a barrel are too low, and that oil must "discover its real value."

Oil prices have hit all-time highs above $115 a barrel in recent weeks, amid reports that oil and gasoline stocks in the United States were lower than expected and as the dollar sinks to record lows.

"The oil price of $115 a barrel in today's global markets is a deceiving figure. Oil is a strategic commodity that needs to discover its real value," the Web site of Iran's state-run television quoted Ahmadinejad as saying. full story