Majors freeze gasoline prices, call isolated price spikes unwarranted

09/17/2001
Plentiful US supplies of crude oil and refined products don't justify a sharp spike in US retail gasoline prices in the wake of terrorist attacks on US targets, industry officials and analysts said last week.Still, President George W. Bush should "send a message to the world" by immediately announcing plans to dip into the nation's Strategic Petroleum Reserve if necessary, said George Gaspar with Robert W. Baird & Co. in Milwaukee."He should make it clear that's a tool that we stand ready to use. And he should immediately make the necessary connections with the oil companies to use it," Gaspar said. "When President Bill Clinton last opened that reserve, he had no arrangements ...
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