Tags: Report | Fuels | Fears | $3-a-Gallon | Gasoline | This | Summer

Report Fuels Fears of $3-a-Gallon Gasoline This Summer

Thursday, 03 May 2001 12:00 AM

The respected industry publication Platts Oilgram said Thursday that companies that produce the familiar numerals used to post prices at corner gas stations across the country have been selling more 3's in the larger sizes that are used to denote dollars.

"Unfortunately, that's so. We've already sold some," said Guy Barnes, president of Fast-Ad, a company that sells sign numbers in Santa Ana, Calif.

While $2 is already becoming a common sight in California and some other areas of the nation, a few analysts recently made predictions in the press that $3 was not out of the question due to low inventories of gasoline at a time when the traditional summer increase in demand was set to kick in.

"Definitely some remote areas are planning to go to $3 per gallon," said Barnes, who told Platts that the sales appeared to be targeted at rural communities such as Barstow, Calif., a popular refueling stop for motorists traveling between Los Angeles and Las Vegas.

Pump prices for regular gasoline in California averaged $1.92 a gallon this week, according to Automobile Association of America, with high-octane grades above $2. Concerns that prices could go even higher in the coming weeks as the summer driving season gets under way were compounded late last month when a fire damaged the Tosco refinery in Los Angeles.

Tosco experienced another fire at its Wood River, Ill., refinery on April 30, stirring up concerns about a price spike in the Chicago area, where the AAA pump price average was pegged at $1.90 a gallon.

Copyright 2001 by United Press International.

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The respected industry publication Platts Oilgram said Thursday that companies that produce the familiar numerals used to post prices at corner gas stations across the country have been selling more 3's in the larger sizes that are used to denote dollars. Unfortunately,...
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2001-00-03
Thursday, 03 May 2001 12:00 AM
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