Gasoline Sinks as Demand Falls, Plants Start After Isaac
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Gasoline tumbled to a one-week low as consumption declined and refinery startups indicated fuel production will increase, boosting supplies.
Futures fell 1.3 percent as demand slid 5.3 percent last week, according to Energy Department data. Gulf Coast refineries are restarting after Hurricane Isaac. Philadelphia Energy Solutions has started a fluid catalytic cracker at the largest plant near New York Harbor, the delivery point for Nymex futures. Prices sank as much as 3 percent after the Federal Reserve announced plans for further economic stimulus.