February 28th, 2013

Gasoline futures rose, narrowing the largest monthly decline since October. Crack spreads widened for the first time in four days.

The March contract’s discount to April futures narrowed 0.47 cent to 24.51 cents a gallon as the U.S. prepares to switch from winter- to summer-grade fuel. The April crack spread, or premium over West Texas Intermediate crude on Nymex, increased 26 cents to $36.96 a barrel. The spread versus Brent crude on the ICE Futures Europe exchange in London was up 6 cents to $18.66. WTI and Brent were poised for monthly losses.

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January 2nd, 2013

Gasoline rose as Congress approved a budget deal that averts spending cuts and higher taxes for most Americans that threatened the U.S. economic recovery.

Unleaded gasoline futures climbed as the House passed a bill undoing income tax increases that took effect yesterday for more than 99 percent of households. The bill, already passed by the Senate, avoids more than $600 billion a year in scheduled spending reductions and tax gains known as the fiscal cliff.

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