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.
The longest losing streak for gasoline futures since trading began on the New York Mercantile Exchange in 1986 means that prices at the pump will continue dropping through the Nov. 6 presidential election, AAA says.
Japanese Prime Minister Shinzo Abe, beset by festering ties with China that have barred a bilateral summit since he took office, is overseeing an unprecedented expansion in ties with Southeast Asia as a counterbalance.
North Korea and its ruling elite are facing additional sanctions after the U.S. and China agreed on a United Nations Security Council resolution punishing the Communist nation for its February nuclear test explosion.
Hurricane Isaac and a deadly blast at Venezuela’s Amuay refinery pushed gasoline to an almost four- month high and threatened to revive a debate about energy costs in the run-up to the presidential election in November.