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Friday, May 30, 2008

Dow Chemicals and Huntsman to raise prices.

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Dow Chemical Company will increase its price on all its products to all its consumer globally by as much as 20% starting June 1. Sharp rise in the costs of energy, raw materials and transportation are said to be the reasons for the increase. Another company, Huntsman Corp. (HUN) announcing plans to raise prices by as much as 25% "in response to sharp and sustained increases" in costs. Both companies are citing the high cost of crude oil - $ 130.00/barrel.

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