Document 61w0E3ZOOVXGKK8bLQGkvLM9

HHBHHBBHHHHHHr*' EconoraicalDelivery Ifitfe Our' $500 iclclvls^ ;car ; will . last ' fvt't'^'y&i. . <m m*' PImm## tor Dm^om^ktha ia4 SMli Sttil :1^- A8LETQRE IES1J , Effects if ' Sittrt Met i Offset"by .Purchases . Crude at tower Levels;. AUG. AVERAGE~$1.07 i Increase in Number of * Vehicles in Use Importa Factor in Ccnsumptior Estimated average value of e !l produced In the United Stall August was $1.07 a barrel comp with an average for the first months of $1,87 a barrel and Mg 192 of 13.01 a barrel, say* tlie \ Street Journal. August probably resents the bottom of price ljrl advances of 2"5 to 8 cents a % In crude oil prices have taken i recently. The August average i the w at which crude oil . Isas sold 1915, when it was 14 cents a tw In 1918 the average of $1.10 a b and it mounted steadily in the y following until the peak of $3.91 reached In 1920. Gradual reces occurred during the first months of l2t. the tofkl decIU average compared with peak of being 88' per cent. Average of $1.07 a barrel com: with 11.10. a barrel In.. 1918. sumption of oil has increased it since that year because- of thCrease In number of motor vel In the United States. In 192 were 9,211,000 cars, compared.: 8.812.998 cars in 1916 and 2,4; ears In 1915, a gain of f.tffjtl. since 1915. Another factor . greatly increased consumption oil Is the use of fuel oil fa industrial plants and railroads, gumption of fuel oil alone in; amounted td approximately 2h; #0tt barrels, accounting for^ltr cent of the quantity of all oil nets consumed in that year. Trend of oil prices this year y the opportunity some We oil:. panics have had of evening % their crude oil inventories by chasing crude on the decline, fitted they were pretty well t up with crude purchased In IS. the average price of $3.07,: bought again as much as they Hed over, from month to mow the decline, vat the average pric obtained of $1.67 a barrel, they, be .able to. cut'.the .average , their .crude---to -12.37 a barrel,-,: ' ot only -fl'JA efn. pared with ttw;