May 31, 2000 - 09:07 PM

Exxon Mobil Chairman Warns of Higher Gas Prices The Associated Press

DALLAS (AP) - Exxon Mobil Corp. chairman Lee Raymond said Wednesday that gas prices may rise this summer because of a dispute over another oil company's patent on producing reformulated gasoline. A federal appeals court earlier this year upheld a ruling that Exxon Mobil and four other oil companies pay $95 million in damages to Unocal Corp. for infringing on its patent. Analysts have estimated the ruling could mean a rise in prices at the pump of 1 cent to 6 cents per gallon.

Refiners who must use other blending methods to make the cleaner-burning fuel won't be able to produce as much gasoline, Raymond told reporters after a shareholders meeting Wednesday.

He said he could not estimate the price increase at the pump or how long the increase would last.

The national average for all grades and service is $1.53 per gallon http://ap.tbo.com/ap/breaking/MGIA2O1PX8C.html

-- Martin Thompson (mthom1927@aol.com), June 01, 2000