Editorial - More gasoline politics

Gasoline consumers in the US have two reasons to worry. Prices of the oil product they use at steadily growing rates are rising in a strong trend. And state attorneys general meeting this week in Washington, DC, will distract attention away from rational explanations for the increase.The market signs are clear. Growth in demand for gasoline is straining supply. In the first 2 months of the year, average demand exceeded the 2003 average for the same period by 3.2%. The average for January-February 2002 was up from the prior year by 2.2%.While demand is growing, US refining capacity is not. In the past 2 years, increases in total capacity from plant modernization have nearly ceased. With re...

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