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Tesoro Petroleum will hold line on gas prices for now

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Tesoro Petroleum said Thursday its Salt Lake refinery has not increased wholesale fuel prices at its terminals nor its retail prices at any of its company-owned Amoco stations acquired earlier this month.

"The Salt Lake market is less sensitive to dramatic price changes created by unusual market conditions because it does not rely on sources outside the Rocky Mountain Region for its refined product supply," said a company release. "Tesoro will continue to hold prices at current levels until there are fundamental changes in crude pricing or market supply/demand."

Tesoro, an independent refiner of petroleum products based in San Antonio, Texas, acquired the BP refineries in Salt Lake and Mandan, N.D., and its 45 Amoco stations, 33 of which are in Utah, on Sept. 7. It also owns the Mirastar gas stations.

The Tesoro Salt Lake refinery has a crude oil capacity of 55,000 barrels a day, making it the largest of four refineries in Utah, with 190 employees.