Gasoline Futures Gain in N.Y. on Optimism for U.S. Budget Deal
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Gasoline rose, capping a fourth consecutive yearly advance, on speculation negotiators will reach a last-minute U.S. budget deal, helping to prevent a dip in demand for the motor fuel.
Futures rose 0.4 percent as Congress works to avert more than $600 billion in tax increases and federal spending cuts, the so-called fiscal cliff, set to start tomorrow. President Barack Obama said a deal is within sight, though it hasn’t yet been completed.