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41% call higher gas prices a 'hardship'

Article Abstract:

The price of gasoline has reached $1.56 a gallon as of Mar 14, 2000, a level that a large number of people are claiming to be causing 'financial hardship.' A survey conducted by USA TODAY, CNN and Gallup showed that 41% of Americans are now feeling the effect of rising fuel prices. The survey results show that the effect of the price increases are being felt more in the rural areas where residents are farther apart and tend to drive for longer periods.

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Cheaper gas on the way

Article Abstract:

The US government predicts that fuel station gasoline prices may have already peaked and will likely decline to an average of $1.46 a gallon by summer 2000. The prediction is a reversal of the federal government's previous stand that fuel pump prices would reach record-high levels in summer 2000. However, the $1.46/gallon estimate represents a 25% increase over gas prices of $1.17/gallon in summer 1999. A key reason for the price break is a decision on Mar 28, 2000, by the Organization of Petroleum Exporting Countries, to increase crude oil production, which has helped cut oil per-barrel prices.

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Gas may cost less by August

Article Abstract:

Saudi Arabia's plan to boost oil production by 00,000 barrels daily could result in a decline in gasoline prices in the US by 10 cents or more by Aug 2000. The decision by the largest oil producer and exporter appears to have impressed oil traders. Oil market experts, however, warn that refineries in the US may not be given the chance to use the extra oil since they are already running out of gasoline.

Consumer prices

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