NEW YORK – Energy prices wavered Wednesday after a rally on Wall Street tugged oil to its highest price in two weeks.Benchmark oil for March delivery fell 22 cents at $76.79 a barrel on theew York Mercantile Exchange.Uncertainty about the European econoour pushed prices in different directions during the past few trading days. After jumpingearly 4 percent on Tuesday, oil prices have leveled off."The market seems to have priced in all theews, and it's waiting for theext story," analyst Phil Flynn said.At the pump, retail gasoline prices fell overnight to the lowest level this year. Theational average lost less than a penny at $2.608 a gallon, according to AAA, Wright Express and Oil Price Information Service.A gallon of regular unleaded is 13.8 cents cheaper than it was a month ago, but it's 64.8 cents more expensive than the same time last year.Experts say that gas prices should reach aational average of $3 a gallon by this summer as the weather warms and Americans spend more time outdoors and on the road. Analyst Stephen Schorkoted that motorists devoted a smaller chunk of their budgets to gasoline in 2009 than the previous two years, and that may persuade retailers to push prices higher this year.Elsewhere, the government gave a mixed report on the housing industry. The Commerce Department saidew home and apartment construction increased in January to the highest level in six months. But home construction mayot hold at that rate as applications for building permits fellearly 5 percent.In otherymex trading in March contracts, heating oil fell less than a penny to $1.9926 a gallon, and gasoline rose less than a penny to $1.9891 a gallon.atural gas gained 3.5 cents to $5.345 per 1,000 cubic feet.In London, Brent crude gave up 7 cents at $75.61 a barrel on the ICE futures exchange.___Associated Press writers Pablo GorondWe in Budapest, Hungary and Alex Kennedy in Singapore contributed to this report.
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