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Prices At The Pump Nudge All-Time High

Rubatex Msds The U.S. price of gasoline last week fell just short of the all-time high, reached in 2001, as consumers paid an average $1.712 per gallon, a mere tenth of a penny below the record, the government said yesterday.

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Rubatex Neoprene Oil prices are high due to market fears of a war with Iraq, a disruption in Venezuelan oil exports from a workers' strike and strong demand for petroleum products.

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Rubatex Pipe The national average retail price for regular unleaded gasoline -- which was the second-highest on record -- jumped 2.6 cents a gallon from the previous week and was up about 49 cents from a year ago, based on a weekly survey of service stations by the Energy Department's Energy Information Administration.

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Rubatex Pipe Insulation U.S. pump prices in May 2001 reached a record $1.713 a gallon. Last week, the EIA predicted the nationwide average price would peak at $1.76 a gallon this April.

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Rubatex 180 U.S. Democrats and consumer groups have urged the Bush administration to release oil from the Strategic Petroleum Reserve to replenish petroleum inventories and lower prices.

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Rubatex 180 Fs However, U.S. Energy Secretary Spencer Abraham repeated yesterday the emergency stockpile would be tapped only in a severe supply emergency and not with the aim of controlling prices.

Rubatex 1800 Four consumer advocacy groups including Public Citizen yesterday asked President Bush to investigate energy companies for alleged price-gouging. They also called for a government-imposed $2 per gallon cap on gasoline prices in the event of a war with Iraq.

Rubatex 320 High gasoline prices are hurting the U.S. economy by reducing consumer spending and cutting into the profits of businesses that have to pay rising shipping costs.

Rubatex 373 The national price for cleaner-burning reformulated gasoline, which is sold in polluted metropolitan areas, increased 3.4 cents in the last week to $1.812 a gallon.

Rubatex Rubber The West Coast had the most expensive regular unleaded gasoline, with the average price in the region up 6.1 cents to $1.993 a gallon, EIA said.

Rubatex Tape The Gulf Coast states had the cheapest gasoline, with the average price up 1.3 cents to $1.592 a gallon.

Rubatex Closing Among major U.S. cities, San Francisco kept the top spot in fuel costs, with the price up 6.2 cents to $2.15 a gallon. Houston had the cheapest gasoline, although the price increased 1.5 cents to $1.583 a gallon.

Rubatex Closed Cell Gasketing The report also showed gasoline prices were up 7.7 cents in Los Angeles at $2.06, up 3.9 cents in Chicago at $1.785, up 0.7 cents in New York City at $1.708 and up 4.8 cents in Denver to $1.641.

Felpro Gaskets The biggest year-on-year change in city pump prices was in San Francisco, where gasoline costs were up 71 cents a gallon from a year earlier.

Poly Products Supplies Separately, the price of diesel fuel increased 1.8 cents to a record $1.771 a gallon, up about 56 cents from last year.

Poly Hunting Feeders Truckers in the New England states paid the most for diesel fuel, $2.001 a gallon, up 4.7 cents from the prior week. The Gulf Coast states had the cheapest diesel at $1.697 a gallon, down 0.3 cents from the previous week.

Shoreline 13171 17 Neoprene Motorists in many European and Asian nations pay significantly higher prices for fuel due to stiff government taxes.

By Chris Baltimore
Reuters - 3/11/2003

Topic: Petroleum Industry

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