Gasoline futures slipped from a seven-month high as the U.S. benchmark crude retreated.
Diesel futures in New York followed Brent crude and European gasoil higher amid escalating tensions between Russia and Ukraine.
Gasoline futures fell from a one- month high on speculation that higher prices will attract imports and increase supply.
Gasoline futures reached the highest price in a month after an industry group reported that U.S. inventories of the motor fuel declined.
Gasoline futures jumped to a three- week high on speculation that U.S. inventories of the motor fuel declined last week.
Gasoline futures advanced as more Americans went to work in March, signaling that demand for the motor fuel will improve for the summer driving season.
Gasoline futures advanced from a four-week low with U.S. supplies of the fuel at the lowest level since November.
U.S. consumers are paying the most in six months for gasoline because of declining supplies and rising costs for the ethanol added to the fuel. Prices probably will keep climbing, the largest U.S. motoring group said.
U.S. authorities are planning inspection flights over the Houston Ship Channel, home to 11 percent of the nation’s refining capacity, as the waterway remains closed for a fourth day.
Gasoline futures rose on speculation that the closing of a key pipeline transporting Gulf Coast oil products to the U.S. Northeast will reduce East Coast inventories.