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NEW YORK (AP) - Crude oil prices edged higher Wednesday after the U.S. government said gasoline inventories dropped for the sixth straight week, keeping worries alive that supplies will be tight going into the peak driving season.
Gasoline prices slipped, though, as the government report showed that U.S. refineries ramped up production last week and that crude imports rose — indicating that it's possible for supplies to catch up before summer demand is in full swing.
Though crude prices have been fairly stable in recent months, gasoline prices have been surging amid low inventories and refinery outages. At the retail level, U.S. pump prices have risen about 19 percent over the past two months.
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