EVAPORATING PANIC AT THE PUMPS

摘要

When the national average price for regular unleaded gasoline spiked 20% in six weeks to hit a record $1.71 in mid-May, headlines warned that prices might reach $3 a gallon by July 4, when Americans hit the roads in force. Springtime inventories were at their lowest level in seven years, and refineries were running at full capacity. The runup in prices lent some weight to President George W. Bush's argument that more refineries are urgently needed.