Oil men last week were treated to one of those dramatic surprises that their industry so often produces, so dearly loves. Gasoline prices had dropped about 3¢ along the Atlantic seaboard. No profit remained in refining. It looked as if crude prices were bound to fall (TIME, Oct. 3). Then the Texas Railroad Commission ordered a 13% reduction in the State's output. It seemed that a price cut could be averted for a while.
Suddenly, without warning, old Sun Oil Co. announced it would pay from 10¢ to 12¢ a bbl. more for Texas crude. Oilmen...
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