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Never Mind $4, What About $5 a Gallon?
by CP Staff
While a lot of talk is going on in the press about $4 gasoline, parts of the country have already hit or blown by that marker.
Today, at the Main St. Chevron station in Mendocino, CA, regular unleaded gas is flowing out of the pump at $4.41 per gallon.
The Chevron station in Ukiah, CA, just 34 miles away, is extracting a mere $3.66 per gallon of 87-octane from its customers.
Non-mainland drivers are paying high prices as well, although it is a burden they have shouldered for a long time now. In Kodiak, AK, the ding for a gallon of regular sits at $4.15. At the Chevron on Maunaloa Highway in Kaunakakai, HI, the collection rate is $4.37.
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Mainland rates, particularly on the west coast, are pushing the $4 barrier. In Ventura,CA, the Mobil station on Main St. E. was billing $3.81 for regular and $4.02 for premium gas. Across the street, regular was $3.59 at the Arco facility.
In San Francisco, per gallon rates on regular ranged from a low of $3.58 to a high at $4.10. In San Diego, the markers were set anywhere from $3.54 to $4.05. On the other side of the country, we see the other side of the coin. The lowest recorded prices today were found in Ohio, Alabama and New York, at $2.76, $2.80 and $2.84 respectively.
Activity in Washington appears to be centering on oil speculators, who only need to front between five and seven per cent of the value of the contract they are buying. For stocks, that level is fifty per cent. Earlier this week, oil industry representatives told Congress that current supply and demand levels should place the price of oil near $55 a barrel - not the $100 level of recent days.
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CP
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