Clown-Free Zone... sorry, no clowns allowed Message Board

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Pastimes : Clown-Free Zone... sorry, no clowns allowed

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To: Ilaine who wrote (106994)	6/6/2001 5:40:44 PM
From: Ilaine	Read Replies (3) of 436258

>>Gasoline Panic Bubble Bursts; Pump Prices Set to Fall By Richard Valdmanis NEW YORK (Reuters) - U.S. gasoline pump prices are poised to head lower following a large drop in the wholesale market, blotting out doomsday predictions of $3 gasoline this summer, industry experts said Wednesday. ``There was a lot of fear that drove prices up to begin with, and now it's clear that that fear was misplaced,'' said Ken Miller, analyst for Purvin and Gertz in Houston. ``Pump prices are certainly going to come down.'' Wholesale gasoline prices in most areas of the country have fallen between 15 and 25 percent since their highs at the end of May due to steadily growing supply. The cost of the fuel fresh from refineries in the Gulf Coast is now as low as 73 cents a gallon, compared with 91 cents less than two weeks ago. The supply growth has erased a deep deficit and brought U.S. gasoline stocks to more than six million barrels, or 3 percent, ahead of last year. This is attributed to a brisk domestic refining pace and strong imports, according to the American Petroleum Institute (API).<< dailynews.yahoo.com

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