If two looming scenarios converge, the price of gasoline in California could reach $4 per gallon, an energy analyst for the U.S. Council on Foreign Relations says. A recent report quotes analyst Philip Verleger as saying California's mandated phaseout of gasoline additive MTBE – and phase-in of the substitute ethanol – likely will increase local gasoline prices because of an expected ethanol shortage. Ethanol is the only other available gasoline oxygenate that suits the state's ...

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