7-Cent Rise Reported: Gasoline Prices Rising in Area As Much as 7 Cents Per Gallon
Many service stations in the Washington area yesterday raised the price of gasoline by as much as 7 cents a gallon or planned to do so this morning, the result of sharply higher wholesale prices charged them by the major oil companies.</br></br>The price of a gallon of premium gas jumped to 57.9 cents at some American Oil Co. (Amoco) stations, a boost of 6 or 7 cents a gallon, depending on the station. Most' of the increase was generated by a 5.8-cent a gallon increase charged the local dealers by Arnqco distributors.</br></br>By the end of the week, gas may cost at least another cent a gallon, a price boost the Federal Energy Office plans to allow to offset the money wholesale and retail dealers are losing because they have less gas to sell as the government allocates the nationÛªs diminished fuel sup-pJy.	w ÛÏItÛªs shocking . . outrageous." said Brooke Perkins, who runs an Amoco station at G950 Braddock ltd. in Annandale. "1 was just told (by an Amoco representative) what the new price was.Û</br></br>51.1	cents for a gallon of premium gas; today it will be 57.9 cents, 5.8 cents for the increased wholesale cost and 1 cent allowed by the federal government to The higher prices were felt by motorists at the gas pump yesterday within hours after Amoco and two other major oil companies, Sun Oil and Standard Oil of Ohio, announced wholesale price boosts throughout the nation. SunocoÛªs wholesale price increased 2 cents and StandardÛªs 1 cent. Similar increases were announced Monday by Standard Oil of California, Union Oil Co. and Shell Oil Co.</br></br>The wholesale price rises can be passed onto consumers immediately under the price guidelines of the Cost of Living Council. Normally,