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Gasoline Prices #244273

CBS Evening News for Thursday, Feb 12, 1976
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(Studio) Gasoline prices decring.
REPORTER: Walter Cronkite

(Chicago, Illinois) Prices dropped average of $.06 gallon since Labor Day. Oil company overestimated nation's need for fuel during winter. [ "Platt's Oilgram" Herbert HUGO - explains about unneeded products.] Hard for dealer to make profit. Peak of $.65 gallon predicted for summer and lower prices for rest of `76.
REPORTER: Sharron Lovejoy

(Studio) Oil industry says President Ford's repeal of tariffs on imported oil and competition of low-cost self-service filling stations accounts for decrs. Independent operators say oil companies cut prices to force them out of business
REPORTER: Walter Cronkite

Reporter(s):
Cronkite, Walter;
Lovejoy, Sharron
Duration:
00:01:40

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