The Clean Air Act will cause the price of gasoline to rise more than ten cents per gallon in cities that have smog. The new federal law requires the use of oxygenated blending. It takes effect on January 1, 1995. Some municipalities and state governments had been adding fuel taxes while the price of oil was in a downward trend. Oil prices are going up.
In Rockford, Illinois, a subscriber to this magazine says he paid $1.49.9 for a gallon of regular Shell gasoline in September. While the government is reporting low fuel prices and inflation that is holding steady, spot checks around the nation say the opposite is true. Inflation is greater than reported. Oil prices are going up
China has an economy which is growing about six percent a year. Worldwide oil consumption is expected to increase three percent each year through the end of the century. Industry experts anticipate an oil shortage developing, either through increased demand or by production manipulation. Oil prices are going up.
Service company operators who depend on petroleum products must be sure to figure the added fuel costs into pricing schedules. Oil prices are going up.
* It should have been titled "Oil prices are going up..... HIGH!!!"