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Gasoline stocks near 1973 lows amid potential summer shortages
U S gasoline stocks slide to 199.8 million barrels the lowest since the summer of 1973, with crude at 283 million barrels and ample world supply. Analysts warn shortages could arise if refinery runs stay weak and demand grows, while industry executives blame the Federal allocation system for higher production costs. Senior editor Harry Hugo cautions motorists that prices may rise after the July 4 weekend.
MENTIONED IN THIS ARTICLE
New York
United States
American Petroleum Institute
Herbert Hugo
Platt
Oilgram
Chicago
Midwest
Hugo
Federal Energy Administration
Henry M. Jackson
D-Wash
John Lichtblau
Petroleum Industry Research Foundation