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Gasoline glut sparks nationwide price wars in U S market
A UPI survey finds surplus gasoline flooding the U S market and triggering price wars. Oil companies face claims they press dealers to buy large stocks while selling surplus to independents at lower prices, with retailers accusing pressure to stay open and cut prices to boost volume. Federal officials report no monitoring findings of such pressure, while insiders warn the glut may persist amid high stocks and planned import duties.
MENTIONED IN THIS ARTICLE
U.S
UPI
New Jersey
John O’donnell
Pennyylvania
Associaton
Federal Energy Administration
New York
John Lichtblau
American Petroleum Insitute