Major Oil Companies Freeze Gas Prices

[Guest guest]

Howdy folks,

You don't have to flock to the gas pumps tonight .. and boy oh boy are they

doing that here in the Denver area of Colorado ... I almost couldn't get out

of the grocery store parking lot the gas stations had such long lines and

waits to get into the gas stations to wait on those lines (I filled up

yesterday afternoon

OH and BTW .. people are driving like MANIACS tonight!

*Hugs*

Chris

 

Turkish Rose Items To Delight

http://www.alittleolfactory.com

 

~~~~~~~~~~~`

 

http://news.excite.com/news/ap/010911/21/attacks-gas-prices

 

Major Oil Companies Freeze Gas Prices

 

Updated: Tue, Sep 11 9:49 PM EDT

 

By BRAD FOSS, AP Business Writer

 

NEW YORK (AP) - Anxious consumers in various parts of the country lined up

for an hour or more to fuel up on gasoline costing as much as $5 a gallon

amid fears supplies would be disrupted following Tuesday's terrorist

attacks.

 

As gasoline wholesalers and retailers quickly raised prices, the nation's

largest oil companies immediately tried to allay consumers' worries by

freezing their prices and pledging to keep distribution steady.

 

Panic caused by rumors of a pending gasoline shortage sent prices

skyrocketing in Oklahoma, Mississippi, Michigan and other states.

 

The R and L Texaco in Oklahoma City increased the price of unleaded gasoline

to $5 a gallon after a supplier told owner Lewis Pfenninger it was unclear

when the next shipment would be available and at what price.

 

At the Sunshine Conoco in Springfield, Mo., gas prices were raised after the

attacks by 40 cents a gallon to $1.99 a gallon.

 

In California, gasoline wholesalers raised prices by as much as 20 cents a

gallon on supply fears, although traders said there was no evidence of a

shortage.

 

Exxon Mobil and BP sought to calm energy markets. The companies said

supplies would not be hampered - except around New York City. The companies

tried to reassure consumers that there was no need to stockpile gasoline.

 

" We are asking all of our customers to maintain their normal buying habits, "

Exxon Mobil spokesman Tom Cirigliano said late Tuesday. " We have ample

supplies. We're trying to avoid an artificial shortage. "

 

But as distribution terminals closed down around the country for security

reasons and motorists worried there wouldn't be enough fuel, gasoline prices

rose almost immediately in parts of the Midwest.

 

Prices had already been soaring in the Midwest because of distribution

bottlenecks that were in effect long before Tuesday's catastrophe.

 

" It's supply and demand, " said Pfenninger, owner of the Texaco station in

Oklahoma City where gas sold for $5 a gallon. " My lines were so long. "

 

Pfenninger said he could have sold out his supply at that price, but decided

to close early. He said he would reconsider the price hike on Wednesday.

 

In Tulsa, Brandon Disney waited in his car at the pumps at a QuickTrip

store.

 

" I'm just filling up, so I don't have to fight anybody to get gas if there

is a shortage, " he said

 

Added Tulsa Police Sgt. Wayne Allen: " We're having to assign officers to

convenience stores to direct traffic and break up fights. "

 

Authorities in various states were investigating instances of price-gouging,

while Mississippi Gov. Ronnie Musgrove declared a state of emergency, which

will allow prosecutors to pursue price-gougers there.

 

Mississippi authorities said they had received reports of gas prices

doubling to as much as $3.60 a gallon within hours.

 

Rumors of spiraling prices spread rapidly.

 

" We got an e-mail from Oklahoma City saying gas was over $6 a gallon, " Ronda

Hunter said while waiting for gas at a Phillips 66 in Topeka, Kan. " The news

said it was jumping to $4 a gallon. Is this madness or what? "

 

Greg Seiter, a spokesman at the AAA Hoosier Motor Club in Indiana, said his

office has received reports of prices rising to $3 and $4 a gallon in parts

of Indiana - including Anderson, Bloomington and Indianapolis - in the wake

of the attacks.

 

" Obviously that's a reaction to the events of this morning. What happened

immediately after (the attacks) was the price of crude oil in overseas

trading climbed suddenly, " Seiter said.

 

The AAA's national office is urging retailers not to impose large price

increases. Nationwide, the retail price of unleaded gasoline is $1.54 a

gallon.

 

Tom Kloza, director of Oil Price Information Service, a Lakewood, N.J.,

publisher of oil industry data, said he expects petroleum companies to act

with restraint in the face of intense marketplace jitters.

 

" To be raising prices frenetically in this atmosphere makes the entire

situation more difficult, " he said. " The last thing the American public

needs to think about right now is that they need to be racing out to load up

on fuel. "