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Gas prices: Supply and Demand Strikes Again

According to the Lehrer Newshour, SUV sales hit a record high last quarter, accounting for 29% of all new vehicles sold in the US. A U of Chicago professor says that, out of the $.45/gal average gas price increase we've seen in the last year, $.15 of that is SUV demand, $.20 is OPEC, and the rest is refinery production issues.

The show polled people on the street to ask, "When will you give up your SUV? $2.50/gallon? $3.00/gallon?" All people resonded, "Never."

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This page contains a single entry by Robert W. Rose published on May 4, 2004 6:54 PM.

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