Gasoline prices and Supplies

Gasoline prices and Supplies : U.S. supplies of gasoline probably fell 2 million barrels last week, according to the median estimate of seven analysts in a survey by Bloomberg news. Gasoline stockpiles shrank 4.17 million barrels to 225 million in the week ended March 11, the lowest level in nine weeks, according to Energy Department data.

“Gasoline inventories have been declining and we’re moving into the gasoline season,” said Andy Lipow, president of Lipow Oil Associates LLC in Houston.

Inventories of distillates, including heating oil and diesel probably declined 1.5 million barrels, according to the survey. The department is scheduled to report last week’s inventories on March 23.

Heating oil for April delivery advanced 3.12 cents, or 1 percent, to $3.0555 a gallon on the change.

Oil futures rose, with Brent crude for May settlement advancing $1.32 to $115.25 a barrel on London’s ICE Futures Europe exchange and Nymex April-delivery crude gaining $1.40 to $102.47.

Regular gasoline at the pump, averaged nationwide, rose 0.1 cent to $3.549 a gallon yesterday, AAA said on its website. Source www.bloomberg.com... For the latest updates PRESS CTR + D or visit Stock Market news Today

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