Maine average gasoline price creeps up a penny this week

The average retail price of a gallon of gas in Maine has inched up a penny in the past week and is now nudging the $4 per gallon mark.

Price-monitoring website MaineGasPrices.com reported Monday that gas is now $3.99 per gallon, a full dime above the national average.

The current price is more than 18 cents higher than at the same time last year and 16 cents higher than a month ago.

The national average has increased nine cents per gallon during the last month.

A company analyst tells consumers to expect price fluctuations in the coming weeks.

Global transactions boost Citigroup quarterly revenue

Citigroup, which has 4,600 branches in 40 countries, boasts that it is the most global American bank. That reach paid off big time in the first three months of the year.

Citigroup pulled in record revenue from processing transactions for its international corporate clients, and its loans to customers in Asia and Latin America grew.

The bank said Monday that it made $2.9 billion in the first three months of the year, or 95 cents per share, which includes a $1.3 billion accounting charge that Citi took because the value of its debt increased.

Without that charge, its earnings per share would be $1.11, which beat estimates of $1.01 among analysts surveyed by FactSet, a provider of financial data.

Argentine leader proposes nationalizing oil shares

Argentine President Cristina Fernandez on Monday proposed a bill to expropriate 51 percent of the shares of YPF oil company that is controlled by Spain’s Repsol, moving ahead with the plan despite fierce opposition from Madrid.

Fernandez said in an address to the country that the measure sent to congress on Monday is aimed at recovering the nation’s sovereignty over its hydrocarbon resources. She said the shares being expropriated will be split between the national and provincial governments.

 

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