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'HOT FUEL' * USA - Costs consumers more when prices rise
Summer temperatures and a continuing surge in fuel prices will amount to a double whammy for consumers this year, advocates say
Washington, DC,USA -Land Line Magazine, by David Tanner -May 22, 2008: -- ... The issue of “hot fuel” is of greater concern in times of rising prices, said Joan Claybrook, president of the consumer group Public Citizen, during a press conference.... Hot fuel is defined as retail diesel or gasoline sold to consumers when the fuel temperature is higher than 60 degrees. Retailers and refiners use a century-old 60-degree standard to buy and sell fuel at the wholesale level, but there is no requirement for temperature compensation at the retail pump.... The “extra gallons” created by expansion of fuel in summer heat could cost consumers more than $2.8 billion this year, which is $500 million more than the estimated cost to consumers in 2007, Claybrook and others said... Sen. Claire McCaskill, D-MO, filed legislation in August 2007 to phase in temperature-compensation devices on fuel pumps. That bill is currently in the Senate Committee on Commerce, Science and Transportation... U.S. District Court Judge Kathryn Vratil is currently presiding over more than two dozen consolidated into a class action lawsuits filed by consumers seeking similar reforms. Those lawsuits also demand that the companies pay damages for what the plaintiffs say are ill-gotten gains from hot fuel...
Labels: hot fuel
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