US pump prices fall as crude sees gains

At-the-pump gasoline prices in the United States dropped for the first time in two and a half weeks on Friday, falling 0.1 cent overnight to $3.662 per gallon.

Retail prices for diesel fuel were also down, dropping 0.2 cent to $4.249 per gallon.

Crude oil prices climbed, however, with June contracts for West Texas Intermediate crude adding $3.80 to $116.32 per barrel near the close of floor trade on the New York Mercantile Exchange while Brent crude for June delivery gaining $3.65 to $114.15 per barrel on the ICE Futures Europe exchange in London.

Gains came on reports that planes from Turkey bombed Kurdish bases in Iraq, causing concerns that oil supplies form the region could be disrupted.

In addition, a better-than-expected Labor Department report on US jobs raised hopes that demand could return.

In afternoon trade in New York, Nymex June gasoline was up 8 cents to $2.96 per gallon while June heating oil was 8 cents higher to $3.20 per gallon and June natural gas added 19 cents to $10.75 per million British thermal units.