Money in a Minute: Headlines for March 4, 2011

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In today's news: Food prices and airfares are on the rise, but gas prices might drop soon. Ford wants some trucks back before they catch on fire, and Microsoft will compete with the iPad - next year.

GAS: Gas prices going lower?

CNNMoney reports that further unrest in the Middle East could spur “$4 and maybe even $5 a gallon” gas, but suggests it’s more likely prices will fall by as much as 75 cents this year because supply is steady.

CARS: Ford recalls vehicles over fuel leaks

Another week, another recall – this time it’s Ford, and they’re worried your F-150 might catch fire. Affecting about 35,000 vehicles, this recall is “because of possible fuel leaks and electrical shorts that could lead to fires,” MSNBC reports.

TRAVEL: Airlines raising domestic fares again

If it seems like airlines were raising airfares just last week, well, they were. And they’re doing it again, AP reports. American, United, Continental and US Airways are up another $10 round-trip, and Delta’s up $10-20. But “none of the low-cost airlines – Southwest, JetBlue and AirTran – had raised prices.”

TECH: Microsoft said to plan Windows for tablets release for 2012 back to school

Microsoft plans to get in on the iPad competition – but not for another year and a half. First it needs to “update its Windows 7 operating system with programs more tailored to the touch screens, size and battery life of tablet computers,” Bloomberg reports.

FOOD: Oil shock could push world food prices higher

The oil spike might hit us at the grocery store as well as the gas pump. According to CNNMoney, the price of dairy, meat, cereals, and other food are on the rise and may jump because of “higher transport costs” and a greater “cost of production.”

Stacy Johnson

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