No Panic Buying of Gasoline as War Starts

From Times Staff and Wire Reports

U.S. motorists and gasoline retailers were keeping a level head as war began in the oil-rich Gulf, with no reports of panic fuel-buying or price gouging, the American Automobile Assn. said.

Fears had been widespread that pump prices would shoot higher in some parts of the country because of expectations from drivers and fuel suppliers that the U.S.-led war in Iraq would disrupt shipments from the Middle East, which accounts for roughly 40% of world oil exports.

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