The cost of plastic is following the rise in oil prices, boosting the value of recycled plastic. When oil hit $66 per barrel recently, almost double the price of a year ago, a shipment of recycled milk jugs climbed to 28 cents per pound, up from about 15 cents a pound. Since plastic is made from oil, along with natural gas, increases in those prices are generally matched by increases in the price for recycled plastic. Despite the value of recycled plastic, it remains largely untapped, and percentage of plastic recycled is still very low.
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