OPEC and gasoline taxes

With the summer driving season approaching, US gasoline pump prices have gotten a head start on their expected increase. And the Organization of Petroleum Exporting Countries doesn't want to take the blame for the rising fuel prices this time around.Gasoline prices generally move with those of crude oil. From that it is easy to see why pump prices have increased in the past month. Heightening tensions in the Middle East following the release of data suggesting that economic recovery in the US is imminent pushed the near-month crude futures price on the New York Mercantile Exchange above $27 at presstime last week. The US average price for all types of gasoline increased 3¢/gal in...

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