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Gas prices reach new national high of 2.33 a gallon
Gas prices rose to a record 2.33 dollars per gallon, surpassing the prior 2.32 dollar peak as oil costs climb and summer demand grows. Hurricane Dennis threatens Gulf production, possibly pushing prices higher. Trilby Lundberg notes the national average covers all grades and is unadjusted for inflation. Exxon Mobil partners begin a 3.5 billion refinery expansion in Quanzhou, Fujian, to triple capacity to 85 million barrels per year using Saudi crude.
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Camarillo
Calif
Gulf of Mexico
Trilby Lundberg
Lundberg
Beijing
Exxon Mobil Corp
China
United States
Japan
Exxon Mobil
Sinopec
Aramco
Saudi Arabia