Gasoline futures prices ended at their lowest in more than a month Tuesday, amid expectations for an increase in gasoline production, as refiners return from seasonal maintenance.
Message Posted: Apr 3, 2013 10:18:40 AM
Reformulated gasoline blendstock for May delivery settled 6.07 cents, or 2%, lower at $3.0408 a gallon, the lowest finish for the front-month contract since Feb. 25.
Analysts and traders say they expect a seasonal pick-up in refining activity in the coming months, boosting production of the motor fuel. Gasoline prices at the pump have fallen more than 11 cents over the last month to an average of $3.751 a gallon, according to AAA, which the automobile association has attributed to rising supply as refineries end seasonal maintenance shutdowns.
Refiners typically pull back on output for maintenance during the w
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