Senate doesn’t agree on next step for steep gas prices

Pump prices should drop to an average $2.60 a gallon this quarter and fall another 20 cents next year, Guy Caruso, administrator of the federal Energy Information Administration, told a hearing of the Senate’s Energy and Natural Resources Committee.

Energy Committee Chairman Sen. Pete Domenici, R-N.M., and ranking Democrat Sen. Jeff Bingaman of New Mexico took a different approach. They recommended Congress take another look at incentives for building new refineries and at fuel-efficiency standards for the U.S. auto and truck fleets.

 

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