NYMEX May RBOB gasoline, which expires on Monday, jumped 7.1 cents, or 3.1%, to settle at $2.3613, the highest settlement since $2.3654 on Aug. 3. It hit a high of $2.365, highest since prices hit $2.4275, also on Aug. 3.
Resistance was overcome at $2.32. It traded as low as $2.685, with support at $2.1450.
"I believe there's a big squeeze, pre-expiry play on May RBOB gasoline ahead of expiration," said Tom Knight, a trader at Truman Arnold in Texarkana, Texas.
Gasoline stocks fell for the 11th consecutive week last week, midweek government data showed, leaving supply 15 percent lower than it was in the week to Feb. 2, amid a series of refinery troubles as units emerge from seasonal maintenance.
"Unless the market starts to see visual evidence of improving refined-fuel production, expect the (energy) market to remain firmly supported in the near term," the Midwest adviser noted.
NYMEX May heating oil gained sharply as well, ending 2.44 cents, or 1.3%, higher at $1.9135 a gallon, after trading from $1.87 to $1.9225. Resistance was breached at $1.9008, with support at $1.8870.
Saudi Arabia arrested more than 170 suspected al Qaeda-linked militants, some of whom were training as pilots to carry out suicide attacks on oil facilities in the kingdom, the Interior Ministry said on Friday.
Chakib Khelil, Algeria's oil minister, told reporters on Friday at a conference in Barcelona that crude oil supplies were not tight and gasoline stocks should rebound, once refiners return from maintenance.