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Archive for Tuesday, September 4, 1990

LOCAL GAS PRICES STABLEFOR NOW

September 4, 1990

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Local gasoline prices appear to have stabilized, at least for now.

A spot check at Lawrence service stations and convenience stores showed this morning's price at the pump for regular unleaded gasoline was $1.29.9 at most locations.

On Aug 27, most stations showed a price of $1.27.9 a gallon.

"They've been holding about where they're at for the last week," said Laura Rose, manager of Texaco Self Service, 1415 W. Sixth.

"I'd say the price is between $1.27 and $1.30 around town," she said.

However, Rose said she was not sure whether the prices would change in the next few days.

"We never know when they're going to change until we get a call," she said.

"I'm honest with my customers when they ask if the price is going to go up or down. I tell them we just don't know."

TODAY'S prices ranged from $1.27.9 for regular unleaded at convenience stores to $1.38.9 per gallon for super unleaded at full-service stations.

Bob McBride, president of M&M Oil Co. Inc., 635 Locust, said the retail price for gasoline stabilized at its current level during the past week.

However, he said the per-gallon wholesale price for gasoline continues to fluctuate daily, since Iraq's invasion of Kuwait on Aug. 2.

"It's changed as much as 13 cents in one day to as little as three-quarter cents," he said.

"Most of the big changes have been increases. The decreases have been less dramatic," he said.

CHUCK Haverty, a stockbroker with the Lawrence office of Dean Witter Reynolds Inc., said the price of West Texas Intermediate crude oil for October delivery was $28.90 a barrel today on the New York futures market up $1.58 from Friday.

Unleaded gasoline was trading on the futures market for 92.9 cents a gallon up 6.72 cents from Friday, he said.

Haverty said crude oil prices have hit a high of $32.35 a barrel since the invasion.

Oil was trading for about $17.25 a barrel before the invasion, and local unleaded gasoline prices were less than a dollar a gallon.

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