Memorial Day a ho-hum holiday for gasoline prices

06/17/2002
Just for the record, there was a holiday in the US at the end of May, and gasoline prices didn't jump.This conflicts with popular presumption.It is widely believed in the US that gasoline prices rise noticeably and annoyingly when holidays come along.The effect should be pronounced when holidays occur toward the beginning of driving season.The holiday just past, Memorial Day, falls into that category.According to prevalent American thinking, a holiday early in driving season should have been worth fifteen, maybe twenty cents a gallon. The reason: Refiners and other gasoline sellers raise gasoline prices in anticipation of heavy driving on the assumption that holiday drivers will pay w...
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