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May 16, 1980 - Image 7

Resource type:
Michigan Daily, 1980-05-16

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The Michigan Daily-Friday, May 16, 1980-Page 7
Analysts predict new
gas price increases
NEW YORK (AP)-Motorists prob- average price of leaded regular
ably will see higher gasoline prices this gasoline at full-service pumps took its
summer despite bountiful U.S. oil first weekly decline in many months,
reserves and a trend toward conser- accordipg to Lundberg's survey. The
vation, oil industry analysts said average price fell from $1.209 at the end
yesterday. of April to $1.206 in the week ended May
The average retail price of gasoline 6, he said.
rose only fractionally in April and "That softening of prices . .:. is not
recorded a slight decline in the first any kind of a key to any considerable
week of May, but industry observers further softening, however," Lundberg
expect the price spiral to resume. said,
"NO ONE CAN say for sure what's
going to happen, but the underlying cost LJA
of making gasoline will continue to go
up because, in part, of the gover- '
nment's oil price decontrol program,"
said Gary Ross of the Petroleum In-
dustry Research Foundation.
The price of retail gasoline probably
will rise at least one cent a month this
summer, barring any unexpected
changes in production or pricing of
foreign oil, according to Dave Knapp of
the Economics Group of Chase Manhat-
tan Bank in New York.
The price rise could be much greater,
Knapp said, if 'the Carter ad- STALLION SHOWTIMES: (G)
ministration succeeds in rescuing its 10:00-12:45-3:45-7:00-9:30
embattled oil-import fee from
congressional opposition. That fee
would result in an increase of 10 cents a
gallon in gasoline prices at the retail , B
analysts to suggest further gas price
increases was Saudi Arabia's announ-
cement Wednesday that it was boosting FRIDAY SHOWTIMES
the price of its crude oil by $2 a barrel to 10:00-12:15-2:30-5:00-7:15-9:30
$28. Although the move was not viewed (R)
as a signal of another round of price in-
creases by, the Organizaion of
Petroleum Exporting Countries, some
analysts said it could foreshadow
changes in the cartel's production
"I think we have received a signal
here from that $2 increase that tells us
to expect in the near future some
notification from OPEC of reduced ex-
ports," said Dan Lundberg, publisher SITTING SHOWTIMES: (R)
of a newsletter about theoll industry. 10:00-12:00-6:00,8:00-10:00
Lundberg said he believes the Saudi 1 R0-1a0-6SAT. 1 0 00
increase will boost U.S. retail gasoline FRI and SAT 12 mid
prices by at least 0.6 of a cent im-
mediately and "as that increase churns
through the entire economy it will come
out within 90 days as a 3-cent-a-gallon
increaseI. An
EARLY IN MAY, the national 7!'r "

Jacqueline Gareau officially receives the gold medal for winning the Boston
Marathon during ceremonies Wednesday at the finish line. On the day of
the race, she apparently finished second, but Rosie Ruiz, the first woman
to cross the finish line, was later disqualified.
Officials: Revenue sharing

won't end 'U'
(Continuedfrom Page3)
Milliken considers the University to be
one of his main budget priorities.
"Right now," he said, referring to the
governor's January budget outline,
"the University would be one of a few
areas with an increase in funding. The
total government increase is less than
two per cent while the increase for the
University is six per cent-even without
state revenue sharing dollars."
BUT UNIVERSITY President Harold
Shapiro said 1981 promises to be a lean
year regardless of whether or not the
federal government decides to approve
the revenue sharing funds. He
estimated that if the plan is passed, $35
to $40 million would be allocated to the
state. "It's hard to say what the effect
will be," Shapiro said. "It depends on
how the money is distributed between
the states and on state appropriations."
He said the University will have to
review the state budget picture before
making any final budget decisions.
Clay said he hopes the legislatture will
finalize the state budget by early July.
"The (state) Senate dould finalize by
then," he said, "but I've heard rum-

budget cuts

blings that the House may not be able TSunday
to." He said the budget may have to
wait until after the November national
elections, and added, "this would make
it difficult for units outside of the
The Ann Arbor Film Cooperative Presents at MLB: $1.50
Friday, May 16
(Bob Rafelson, 1970). 7 & 10:20-MLB 3
JACK NICHOLSON as Bobby Dupea, "an extraordinary person posing as a com-
mon man," is arguably his best performance. As in Rafelson's other films. Kina
of Marvin Gardens and Stay Hungry, he entertainingly captures the charms and
vices of American life. No one orders a chicken salad sandwich like JACK
(Jack Nicholson, 1971) 840-MLB 3
Of the rash of college films to come out of the late '60's, this witty, sensitive film
was the only honest one. Typically, it was overlooked. This story of a college
basketball star who must choose between his sport and political activism, will
strike home for many University students. Bruce bern's excellent performance
as the coach won the best supporting award from the National Society of Film
Tomorrow: Peter Bogdanovich's THE LAST PICTURE SHOW at MLB

FRI. and SAT. 12:00 mid.
FRI. and SAT. 12:00 mid.
* .*
FRI. and SAT. 12:00 mid.

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