Gas prices in the Grand Valley are covering a wide range Wednesday as prices begin to fall as refineries on the Gulf Coast begin operations following Hurricane Katrina. Prices at stations were ranging from about $2.89 to about $3.15 for a gallon of unleaded regular grade gasoline.
One station owner, who did not want to be identified, says he is losing money at the reduced price, because he bought gas at a higher price late last week. He says it was necessary to drop prices because commodity prices dropped Tuesday afternoon. He says he expects prices everywhere to drop to less than $3 a gallon by Thursday.
Some people filling their tanks are still not happy, but are resigned to paying what is needed.
Two of the largest refineries on the Gulf Coast have reopened causing oil futures to drop more than 50 cents to about $64 a barrel.
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