Petrol prices set new records at US pumps

US petrol prices set more records at the pump today, while petrol and oil futures prices turned mixed after the previous session’s big advance.

Retail petrol prices rose US1.5 cents (about 1c) overnight to a national average price of €2.31 per gallon, a new high, according to AAA and the Oil Price Information Service.

But petrol futures for June delivery fell €1.02 to €1.79281 a gallon on the New York Mercantile Exchange, with analysts attributing the decline to profit-taking from yesterday’s 9.96-cent increase in the June contract.

“I think yesterday’s run-up was just so enormous (that) this is just kind of a breather,” said Kevin Saville, an energy analyst at Platts.

Oil futures were up on continued concerns about gasoline supplies, rising 7.3c to €48.0663 on the Nymex.