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Gasoline #241066

CBS Evening News for Wednesday, Jul 02, 1975
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(Studio) Report on oil company reasoning and Los Angeles reaction to gasoline situation coming up.
REPORTER: Roger Mudd

(DC) Basically question of oil companies' idea of what trade will bear. Gasoline prices usually higher in summer. Federal Energy Administration had predicted rise. June prices higher due to recent mos. experience. Oil tariff on imports noted. Gas sales rise, so thought is market can stand the increase Gasoline price decline expected in fall.
REPORTER: George Herman

(Los Angeles, California) Gasoline prices up 2-3 cents in Los Angeles. At stations not hit by price rise, business brisk. Premium gasoline now at 64.9 cents. [Mobil Dealer Julius WEINER - analyzes situation.] [Motorist Blanche KANOW - is resentful.] [Motorist Henry BLANKFORD - expresses frustration.] [Motorist Art GAUDI - considers price rise the cost of US becoming self-sufficient with regard to oil. Says increase better than rationing.] Price increases won't add to station profits. Stations still go out of business Stn. demolished as prices rise. Film of demolition shown.
REPORTER: Terry Drinkwater

Reporter(s):
Drinkwater, Terry;
Herman, George;
Mudd, Roger
Duration:
00:02:50

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