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SIn 1998, U.S. refining capacity utilization
was at an historic high and very near maximum input levels during the summer
gasoline season. While utilization has
been somewhat lower since then, only modest capability to produce more
gasoline has existed during the summer period. Moreover, refining capacity increases from
1995 to 2003 have not been sufficient to produce the increases in volume of
gasoline sold in the United States. As
a result, gasoline imports increased.
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