Gasoline Prices Spike on Ike
Fri, 2008-09-12 04:29 - Topics:
Gasoline prices are spiking on the U.S. Gulf Coast as Hurricane Ike nears shore. The Oil Price Information Service (OPIS), a market research firm, reported on Sept. 11 that gasoline trading on the Gulf Coast is "absolutely frantic," with wholesale prices nearing $5 a gallon. That's twice what gasoline futures were trading for on the New York Mercantile Exchange.
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