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Thursday, June 12, 2008

Oil Prices at Record Highs

Don't expect relief from stratospheric gasoline prices any time soon, the Energy Department said Wednesday. National average is around $4.10 a gallon, but it's $4.50 in L.A. , and the gas stations aren't the ones cashing in on the skyrocketing prices. According to a recent story in the L.A. Times -"Credit card fees, the price of tanker-loads of fuel and other costs are rising so rapidly that station owners haven't been able to keep pace despite the record prices they're charging.High California taxes, and stringent pollution laws add to the high CA prices. On Monday, Democratic presidential candidate Barack Obama said he would push for a tax on record-high oil-company profits like those being collected by Exxon Mobil Corp."

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