Just as some U.S. manufacturers were about to pump up the price of tires by 5% last week, the General Services Administration punctured the air hose by announcing a 14¢-a-lb. cut in the price of natural rubber. GSA Administrator Jess Larson wants the tiremakers to pass along their savings, $40 million in the next three months, to consumers. At 52¢ a lb., rubber is now 47% cheaper than last December, when GSA clamped the lid on skyrocketing rubber prices by taking over the buying of all natural rubber for the U.S.
Rubber...
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