Oil prices slid on Wednesday but gasoline spiked to their highest since July 2015 as flooding and storm damage in the wake of Hurricane Harvey has shut one-fifth of U.S. oil refineries, crimping demand for crude but raising fears of a fuel shortage. U.S. West Texas Intermediate (WTI) crude futures were at $46.30 per barrel at 0359 GMT, down 14 cents from their last close. Brent crude futures were down 20 cents, at $51.80 a barrel. 

In the refined product market, price movements are more dramatic. U.S. gasoline prices were 3.2 percent higher at $1.8391 per gallon on Wednesday. Prices earlier climbed to the most since July 31, 2015, at $1.842. Ultra-low sulphur diesel futures also gained 1.2 percent to $1.6854 a barrel and were earlier at their highest since Jan. 9 at $1.697.

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