U.S. Pump Prices Seen Extending Gains From 6-Month High: Energy
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U.S. consumers are paying the most in six months for gasoline because of declining supplies and rising costs for the ethanol added to the fuel. Prices probably will keep climbing, the largest U.S. motoring group said.
Gasoline, averaging $3.561 a gallon at the pump, already costs the most since September, according to AAA. Prices for ethanol, the fuel additive mandated by the government, are the highest in more than seven years after freezing weather and a shortage of rail cars slowed distribution and reduced inventories.