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consolidationofoil-refiningbusiness
Consolidation of Oil-Refining BusinessIs Likely to Lead to Spike in Gas Prices
By ALEXEI BARRIONUEVO Staff Reporter of THE WALL STREET JOURNAL
Remember the roller-coaster ride gasoline prices took last year? In the spring, some Midwestern prices spiked by half, to more than $2 a gallon, in just two months before falling back. Meanwhile, the average pump price in California leapt by 15%, peaking in May at $1.95.
Since then the Sept. 11 attacks and the broader recession have pushed down prices. But heres unsettling news for drivers: Sweeping changes in the oil-refining business are aligning to
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