When asked about the possibility of the price going that high, president says, ‘That’s interesting, I hadn’t heard that.’ He also says a tax hike on oil companies would drive the price up further.
Go to Los Angeles Times original
WASHINGTON - The prospect of sharply higher fuel prices, including $4-a-gallon gasoline, may not have made it into Oval Office briefing books, perhaps explaining why President Bush was surprised Thursday when a reporter mentioned what energy analysts are saying could happen soon in many parts of the country.“Wait, what did you just say? You’re predicting $4-a-gallon gasoline?” Bush responded to a reporter who said some analysts expect prices to soon climb that high. “That’s interesting. I hadn’t heard that. . . . I know it’s high now.”
The price of oil set another record Thursday, jumping $2.95 to close at $102.59 a barrel in New York futures trading.
But even before the recent surge in oil prices, analysts were predicting that the average price of a gallon of gasoline could reach $3.75 nationwide in the near term and top $4 in states such as California and Hawaii.
Bush’s acknowledged unfamiliarity with the recent cost of gasoline produced some fumes at the pump.
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