The Wheeling intelligencer. [volume] (Wheeling, W. Va.) 1903-1961, 1916-01-01
No Basis for
Advancing the
Gasoline Rate

WASHINGTON. d. G. Dee. sl-OffI-
S .S. government figures made public
race OF the rising prices Of gasoline.
brodnction Of crude petroleum during
althoueh production was "purposelv re-
sardec as far as practicable; that re-
seFNe stocks OF crude petroleum now
oe.hg held In the country are the lRrg-
est ever recorded. and that exports OF
gasoline, TO which the rise in prices
frequently has been attributed mere in
the last ten months OF 1918 less than
the exports during the cOrreSponding
PeIiOI OF me two years previous.
, BON the department % Justice and
tne FEDERAL trade commission are pa
pairing 20 investigate gasoline prices.
survey estimated the 1915 production
or market petroleum at 267. 400. O0o bar
r.Srissi 1000 barrels more than in 1914.
agree with the currently reported rea-
son Tor the exceptionally high prices
II ADDS: AS a result from the over
ssoau put on the transporting and re-
Trims phases OF the petroleum indus
year 1915 may be characterized as "A
period OF readjustment ina which produc-
far as practicable The small Increase
therefore Is more significant than those
simple figures Indicate"
Factors that might be expected TO af-
rect the price OF gasoline according to
geological survey officials. are pro-
auction. consumption and prices OF crude
petroleum. Consumption figures. they
said. We're not available though con-
sumption was increasing.
\ low Petroleum price level was
reached in April and until August the
price remained at Sl.35 a barrel for tho
market standard Then the price began
TO soar and on December II Petroleum
Z was selling at Sel5. Indications now are
SAYS the statement. that the price soon
ord.
one production fact brought out by
the survey is that crude petroleum
Stocks held in reserve. the largest ever
known. Increased 5O.00O.0O0 barrels in
100000 barrels are being held Field
storage by producers accounts for "a
100000 barrels OF this.
Export figures for the first ten
months OF 1915 show that gasoline eN-
ports dropped far below the same per
lod in 1914. and slightly below 1913. Dur
ing the ten months ending with Octo-
Der Shll.it6 barrels. left the United
states against l4O.21b.273 for the same
period In 1914 and 100. 353. 81 In 1918
The relation between the cost OF crude
petroleum aud gasoline h hard TO deter
mine. according To officials who have
given the subject study. because Of the
varying grades Of petroleum and the
variety Of oils produced in refinement.
| An increased demand for gasoline. they
! say. means an increased production with
consequent increase In production or
hetostne. Iubricating oils and other
petroleum products. All petroleum pro-
ducts have risen Ia price.
/ Officials familiar with the Situation
( said today. the recent discovery by Dr.
Walter +. Rittman. a Government chem
iSt. OF a process FOR obtaining from crude
oils -OU per cent. more gasoline than
by old methods, probably would have "A
bearing on both production and price
before another year had passed. several
companies already have started produc-
| ton under the new method. Their out
! started IL was said would b. felt soon
4 on the market.