OIL: Up Again

Said a Standard Oil man: "A horrible surprise." The rest of the industry felt the same way. Last week, only six weeks after a 20¢-a-barrel increase in the price of crude oil had upped retail gasoline and oil prices, Sun Oil Co. raised its buying price for crude again. This time the price went up 50¢ a barrel, the largest single rise oilmen could remember in years. It brought the price of crude bought by Sun Oil to $2.65, highest since 1920.

Other companies were "carefully weighing" a price increase. Companies dependent on outside sources of crude had little choice....

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