Word: willingly
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Dates: during 1970-1979
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Since January, gasoline prices have risen by about 45%, to a current national average of $1.01 per gal. Daniel Lundberg, whose Lundberg Letter is widely regarded as the most reliable gauge of gasoline marketing trends, figures that prices are poised to jump to $1.18 per gal. by year's...
Supply problems will be real enough for the oil companies that must abide by the Iranian embargo or risk losing their deliveries altogether. Because not every refinery can process all grades of crude, oilmen face logistical headaches in trying to switch about their Iranian and non-Iranian supplies. That is...
Nearly half the total deliveries entered as gasoline, diesel fuel, heating oil, kerosene and other products from refineries throughout the Caribbean. Now much of the loss will have to be made up by having companies divert non-Iranian oil to the Caribbean refineries, while sending the Iranian crude to European...
Late in the week Iran further complicated the situation by declaring that American companies would no longer be permitted even to buy Iranian crude, let alone deliver it to the U.S. The petroleum will be sold instead to any non-U.S. oil companies that want it, leaving the U.S...
Oilmen are fearful that Iran will soon go a step further and simply cut back its production by a flat 700,000 bbl. With the world market tight, any such reduction would push up prices sharply, especially for single shipment cargoes that are sold on the so-called spot market...