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Wednesday, April 16, 2008 It's high time for the big oil companies to explain one of life's great mysteries; exactly how they fix the price of fuel at the filling station. The public has heard all sorts of explanations -- market forces, regional instability, refinery issues and so on -- but the logic behind the ups and downs (mostly ups) of gas prices is about as transparent as an IRS tax form.
This topic is a burning concern not just because of costlier gasoline, which is, of course, a major drag on the U.S. economy and which affects all of our lives. It is also pertinent when it comes to diesel fuel, which, for no apparent reason, recently leapt up in price, well above the level of gasoline. Perversely, this has occurred just as consumer interest in fuel-efficient diesel vehicles is on the rise and as several major automakers are launching a new wave of advanced, clean diesel models. Anti-diesel effort brewing?It's bad enough that gas prices are shooting up, but Big Oil's reluctance to produce sufficient supplies of diesel -- thus driving up the price -- does seem like an effort to snuff out a promising, extremely fuel-efficient technology just as it gains a foothold in the United States, the world's most energy profligate nation.
So why is diesel suddenly so expensive just when the country needs it badly? That's a question that Congress should be asking oil executives next time it has them lined up for a grilling.
Congress should also ask the Big 3 CEOs why they won't have any diesel cars for sale anytime soon, despite selling them elsewhere in the world..
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