Gasoline shortages this summer, serious threats of renewed scarcities of heating oil next winter and rising prices of petroleum products have stirred deep suspicions among the public and some Government officials about the oil industry's pricing policies. In a federal appeals court in Washington, D.C., last week, the Cost of Living Council won the right to force rollbacks of some gas-station prices. A lower court earlier had enjoined the COLC from enforcing Phase IV guidelines that would require the price cuts; they will now go into effect Sept. 8. The COLC has also demanded that Atlantic-Richfield Co. (ARCO) justify...
To continue reading:
or
Log-In
