The oil and natural gas industry’s “greatest contribution can be to ensure that supplies of fuel to American consumers continue uninterrupted. Americans should be assured that every one of our companies is working hard to do just that,” the American Petroleum Institute said Wednesday, combating fears that a possible outbreak of Middle East hostilities emanating from the attacks Tuesday on New York and Washington could slow the flow of oil to the U.S.

ExxonMobil also issued a statement Wednesday, saying its company-owned stations were holding the line on gasoline prices. “We have supply available for retail customers and to meet contractual obligations, and encourage customers to maintain their normal buying habits to avoid artificial runouts,” ExxonMobil said. Less than 1,000 of its 16,000 branded stations, however, are company-owned. It said it had not raised wholesale prices to other dealers and urged independent gasoline station dealers to “act responsibly.”

API said it was “confident that fuels are flowing normally to wholesale and retail markets throughout the United States. Gasoline and diesel fuel inventories are adequate to meet demand and refinery production remains strong.

“America’s oil and natural gas industry stands ready to assist our government in this time of national crisis. In fact, we have been in communication with the highest levels of our government to assure them that we are ready to assist in any way we can,” API said.

“We are aware of reports of lines forming at gas pumps in some sections of the country and of isolated panic-related incidents caused by fears that a disruption in the gasoline supply system could lead to higher prices or shortages. There are allegations that some gasoline stations are taking advantage of the situation to increase their prices.

“API and its members do not condone and, in fact, strongly denounce any attempt to use this crisis to take advantage of consumers. If there is any illegal activity, those responsible should be prosecuted to the fullest extent of the law.”

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