Gasoline Supplies Surge: As imports soared, the...

Gasoline Supplies Surge: As imports soared, the nation’s gasoline supplies rose for the first time in nine weeks, the American Petroleum Institute reported. The trade group said for the week ended April 19, gasoline inventories increased 700,000 barrels to 204.9 million barrels from 204.2 million in the prior week but were well below the 222.5 million in storage a year earlier. The May contract for wholesale unleaded gasoline tumbled 2.54 cents to 71.81 cents a gallon on the New York Mercantile Exchange. The API weekly survey found daily gasoline imports rocketed to 658, 000 barrels from 185,000 barrels in the preceding week.