Production concerns boost fuel, oil futures

Gasoline and oil futures jumped Friday on continued concerns that domestic refineries aren’t producing enough gasoline to meet summer demand.

Retail prices, on the other hand, retreated further from last week’s record highs. The national average price of a gallon of gas fell to $3.184 a gallon, down 0.7 cent overnight and off 4.3 cents since the May 24 record of $3.227. But gasoline futures for July delivery rose 4.14 cents a gallon to settle at $2.2446 on the New York Mercantile Exchange, while July light, sweet crude futures jumped $1.07 to settle at $65.08 a barrel.