Retail Gasoline Sets Season Record as Plants Shut, Oil Rises
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Retail gasoline prices in the U.S. rose to a record for this time of year amid a decline in refinery production because of breakdowns and seasonal maintenance and an eight-week rally in crude futures.
Regular gasoline in the U.S. climbed 7.3 cents, or 2.1 percent, from a week earlier to $3.611 a gallon yesterday, the highest level since Oct. 22 and a record for this time of year, according to data compiled by the Energy Information Administration, an Energy Department agency. West Texas Intermediate oil futures have gained more than $10 a barrel since mid-December and on Feb. 1 capped the longest stretch of weekly advances in more than eight years.