Retail Gasoline Prices Across Texas Up 2 Cents
Updated: 05/22/2013 - Retail gasoline prices across Texas have risen 2 cents as travelers prepare for the long Memorial Day holiday weekend.
WASHINGTON (AP) - Senators told oil executives Wednesday that
high oil prices cannot be explained by supply and demand and the
oil industry's concentration - and OPEC price collusion - is
contributing to the costs facing consumers.
Executives of the five largest oil companies were appearing
before the Senate Judiciary Committee.
Committee Chairman Patrick Leahy, D-Vt., said there's an
unexplained "disconnect" between prices - at nearly $130 a barrel
- and legitimate supply and demand.
"We need to get prices under control.... We can only conclude
that the oil markets have failed," said Sen. Herbert Kohl, D-Wis.
But Shell Oil Co. Chairman John Hofmeister said the prices can
be explained, saying, "The fundamental laws of supply and demand
are at work."
Updated: 05/22/2013 - Retail gasoline prices across Texas have risen 2 cents as travelers prepare for the long Memorial Day holiday weekend.
Posted: 05/16/2013 - Retail gasoline prices in Texas have risen 3 cents this week to reach an average $3.41 per gallon.
Posted: 05/09/2013 - Industry officials say retail gasoline prices across Texas have risen 4 cents this week.
Posted: 04/25/2013 - Retail gasoline prices across Texas have slipped 4 cents this week to settle at $3.35 per gallon.
Posted: 03/21/2013 - Retail gasoline prices across Texas have increased 3 cents this week.
