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Gas Prices Surge as Supply Drops [1]

['Jad Mouawad', 'Simon Romero']

Date: 2005-09-01

For the first time since the 1970's, gasoline lines reappeared yesterday in some corners of the country.

Three days after Hurricane Katrina dealt a devastating blow to the nation's largest energy hub, the worst-case possibility was quickly becoming a reality: gasoline prices surging well above $3 a gallon, with some consumers complaining of price gouging; service stations in a handful of locations running out of gas; drivers rushing to fill their tanks, only to find themselves waiting in line with others.

After the sudden drop in oil supplies, gasoline sellers were quick to raise their prices. While gasoline averaged $2.60 a gallon earlier in the week, unleaded regular gas was selling yesterday at $3.09 at stations in West Palm Beach, Fla.; $3.49 in Indianapolis; and $3.25 in San Francisco. Premium fuel was going for up to $3.89 a gallon in Chicago.

Shortages and gasoline lines were reported in parts of South Carolina, the Dakotas, Arkansas and Kentucky.

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[1] Url: https://www.nytimes.com/2005/09/01/business/gas-prices-surge-as-supply-drops.html

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