Higher gasoline prices have certainly made their way to the pump, highlighted by the latest AAA data indicating that US prices surged more than $0.19 last week. The jump to $3.38 per gallon was the largest weekly gain since Hurricane Katrina in September 2005. In the meantime, there were reports that seasonal refinery maintenance this spring is projected to run below average as companies remain in operation and try to capitalize on higher gasoline prices. Some traders suggested that this development could help build supplies as we head into the US summer driving season.
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