More refining musings

Although US gasoline prices are almost as high as they were in May (OGJ, May 24, 2004, p. 15) this once-hot topic has lost some of its allure with the driving public and local newscasts.OGJ data show that average US pump prices were $1.953/gal for the week ended Aug. 11, only a slight drop from the peak average of $1.963/gal for the week ended May 19.Maybe drivers are catching on that the rise in summer gasoline prices is a transitory occurrence. Maybe they are tired of hearing about gasoline prices on a daily basis. Or maybe they realize that the higher prices really aren't so burdensome.Luckily, US refiners didn't have any major upsets this summer, or the situation could have be...

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