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Why Gas Prices Are Rising

POSTED:

BusinessWeek

What we are seeing, however, is American refiners cutting back on their utilization capacity, producing less gasoline in order to reduce the retail supply so they can raise prices. Amazingly, Americans get hot under the collar when OPEC cuts production to intentionally raise oil prices on the market, but when refiners cut production to raise the prices of finished fuels that we buy every day, we ignore it.

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