New VorVHouston-September unleaded gasoline on the New York Mercantile Exchange settled at an all-time high of 2 6145/gal,a gain of 14 cts,as the market continued to reel from lost Gulf Coast refining output from Hurricane Katrina.Gasoline was higher despite news the Environmental Protection Agency would waive certain federal fuel standards in all 50 states in response to possible shortages.The EPA will suspend summertime volatility standards about two weeks early.The volatility standard requires the sale of gasoline with a lower Reid Vapor Pressure in most sections of the country in the warmer,high-ozone months.The summer standard requires the use of gasoline with an RVP as low as 7 psi from May until Sep 15,after which gasoline with an RVP of 9 psi can be used.
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