US Gasoline futures traded above $2.5 per gallon, the highest since September 2014, as traders weighed a larger-than-expected drop in gasoline stockpiles and prospects of booming demand. EIA figures showed inventories shrank by 5.368 million barrels, easily beating forecasts of a 1.267 million barrel draw, as demand surged to its highest since 2007. Meanwhile, the POTUS warned gasoline prices will stay elevated into 2022 due to OPEC+ output policies. Elsewhere, gasoline sales in the world’s third-largest oil consumer India, reached 1.05 million tonnes in October, a 2% monthly increase and up 8.3% from the same month in 2019.

Historically, Gasoline reached an all time high of 3.63 in July of 2008. Gasoline - data, forecasts, historical chart - was last updated on October of 2021.

Gasoline is expected to trade at 2.55 USD/GAL by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 2.75 in 12 months time.

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Price Day Month Year
Crude Oil 84.23 0.8900 1.06% 11.64% 112.86%
Brent 86.04 0.1300 0.15% 8.19% 108.84%
Natural gas 5.83 -0.0660 -1.12% 1.76% 93.18%
Gasoline 2.50 -0.0095 -0.38% 12.43% 118.66%
Heating oil 2.56 -0.0008 -0.03% 11.67% 121.47%
Ethanol 2.21 0 0% 0% 42.39%
Naphtha 766.17 -0.33 -0.04% 12.87% 102.11%
Propane 1.45 0.01 0.37% 13.22% 177.89%
Uranium 48.85 -0.1500 -0.31% 13.47% 65.87%
Methanol 3,113.00 -65.00 -2.05% -5.70% 65.67%

Gasoline is the largest single volume refined product sold in the United States accounting for almost half of national oil consumption. The NYMEX Division New York harbor unleaded gasoline futures contract and reformulated gasoline blendstock for oxygen blending (RBOB) futures contract trade in units of 42,000 gallons (1,000 barrels). They are based on delivery at petroleum products terminals in the harbor, the major East Coast trading center for imports and domestic shipments from refineries in the New York harbor area or from the Gulf Coast refining centers. The Gasoline prices displayed in Trading Economics are based on over-the-counter (OTC) and contract for difference (CFD) financial instruments. Our Gasoline prices are intended to provide you with a reference only, rather than as a basis for making trading decisions. Trading Economics does not verify any data and disclaims any obligation to do so.