NYMEX RBOB gasoline sets another record high

07 May 2008 21:05  [Source: ICIS news]

HOUSTON (ICIS news)--The benchmark June NYMEX gasoline contract settled at a record high on Wednesday, driven by new all-time highs in crude oil, projected growth in demand and a shift to more expensive summer-grade gasoline.

 

The reformulated blendstock for oxygenate blending (RBOB) contract settled at 311.82 cents/gal, up by 1.27 cents from the previous record of 310.55 cents/gal set on Tuesday.

 

The Energy Information Administration (EIA) reported that average US retail prices for regular gasoline moved higher for the sixth week in a row, to a record 361.3 cents/gal.

 

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By: Brian Balboa
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