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Business
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Saturday, June 21, 2008, 3:00 AM
Premium gas sales tank as fuel prices rise The Associated Press MIAMI BEACH, Fla. -- With rising fuel prices pushing the national average for premium to $4.48 a gallon -- about 40 cents higher than regular -- motorists are buying less of it, industry statistics show. Demand for high-octane fuel is at its lowest in nearly a quarter of a century and is now primarily consumed by a core group of luxury vehicle owners -- and even some of them are putting lower-grade fuel into their tanks to save money. Gas station owners say they are pumping so little premium that it can take three or four weeks to sell their high-octane inventory, as opposed to a couple of days for a delivery of regular gas. Premium gas is making up only 3.3 percent of E-Z Mart's gas sales this year, Hubbard said.
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