ROANOKE TIMES
Copyright (c) 1996, Roanoke Times
DATE: Thursday, April 11, 1996 TAG: 9604110027
SECTION: BUSINESS PAGE: B-8 EDITION: METRO
Driving season likely to bring gas-price peak
WASHINGTON - Gasoline prices should peak early in the summer and then begin to drop despite an expected record demand, the Energy Department forecast Wednesday.
``This summer is projected to set a new [driving] record of over 7 billion miles per day,'' said Energy Information Administrator Jay Hakes. ``That's a lot of miles.''
Tight oil supplies following an unusually cold winter and a decline in U.S. production mean prices could rise further as summer begins, Hakes said. But abundant oil stocks on the world markets should ease the problem as imports rise later in the season.
Averaged over all grades, gasoline is selling for $1.29 a gallon, Hakes said. This could rise as high as $1.35 by late spring or early summer and then fall as low as $1.23 by August, he said. Last summer the average price was about $1.24 a gallon.
The Energy Department expects a demand of more than 8 million barrels of oil per day by August as a result of increased travel. ``The driving-age population is increasing and driving per capita is going up,'' Hakes noted. The end of the federally mandated 55 mph speed limit also should affect gasoline use, but he said officials were uncertain how large the impact will be.
- Associated Press
Bell Atlantic to offer access to Internet
NEW YORK - Bell Atlantic Corp. will offer Internet access to its local phone customers this summer, the company said Wednesday. Ameritech, Pacific Telesis and U S West already provide access service to businesses.
Bell Atlantic said it would provide the service to businesses in Washington in May, Baltimore in June, Philadelphia in August and New Jersey in September. Consumer service will start in July in Washington, Baltimore, Roanoke and the rural areas of Southwest Virginia. Unlimited access will cost about $20 a month.
- Associated Press
Briefly ...
A Hampton Inn featuring seven luxury suites and the Martinsville area's only indoor pool will be built on U.S. 220 in Collinsville. Steven and Howard Grodensky, developers of the $3 million hotel, also own Collinsville's Dutch Inn. The Hampton is scheduled to open in February 1997. It will have 20 employees, the Patrick Henry Development Council said Wednesday.
Swift-Eckrich is recalling 15,000 pounds of canned hams that pose a health risk because some may have been undercooked, the Agriculture Department said Wednesday. The 5-pound cans of ham bear the label ``Swift Premium Fully Cooked Ham, Water Added.'' Officials say people should neither open the cans nor taste the product because of the risk of food poisoning. For more information, call 1-800-846-5426 between 9 a.m. and 6 p.m.
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