White House Hits Gas Price Hikes
Sudden increases in retail gasoline prices after Iraq’s invasion of Kuwait brought criticism from the White House today, with a spokesman questioning whether they have been justified.
“There have been some increases in the spot price of crude oil, but it is not clear that all the price increases that have been reported at the consumer level are necessary,” presidential spokesman Marlin Fitzwater said.
Retail gasoline prices have risen sharply--as much as 15 cents a gallon--since Iraq’s takeover of the tiny oil-producing Persian Gulf emirate of Kuwait on Thursday.
“It would be most unfortunate if there was any gouging or anyone was trying to take advantage of the situation,” he added.
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