Glut of gasoline looms for spring

There exists a possibility of a gasoline glut in the spring even though fuel prices are still rising, but the situation is clouded by the Iraq-Iran war, it was reported by the noted oil industry newsletter, The Lundberg Letter. Heating fuel oil stocks are sufficient for the winter season, but the question is whether US gasoline supplies will build to glut proportions in the spring, the newsletter said.

"The crucial question is whether world petroleum supplies will tighte n with the continuation of the Iraq-Iran war," it added.

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