Oil prices fade as storage levels hit 16-year high

COLUMBUS, Ohio


Crude in storage last week rose 3.3 million barrels, according to the Energy Information Administration, much more than what was expected by analysts.

It was another story at the pump, where prices continued their seasonal rise. National retail gasoline prices hit the highest level since Nov. 21 and are on pace to surpass $2 by Friday with one analyst suggesting prices may go as high as $2.25 this spring. The average gallon of regular gas has risen 6 cents this week.

AP