Local Gas Prices May Increase Due to Middle East Troubles

I learned that petroleum futures (prices) on the New York Mercantile Exchange (NYMEX) had closed sharply higher this afternoon although the increases were far less than anticipated given saber-rattling in the Middle East. Tensions seemed to easy in after-hours trading but Monday promises to be an especially volatile my sources tell me. From what I have learned beginning tomorrow (Saturday) retail gasoline may increase about 5 cent/gallon. The first indication of further price increases will be seen when the NYMEX begins trading about 5 PM on Sunday Reno time.

Peter D. Krueger
Executive Director
Nevada Petroleum Marketers
& Convenience Store Assoc.
Reno, Nevada

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