Gasoline futures extended losses to below $2.5 per gallon, the lowest in two weeks, as worries renewed about fuel demand and rising inventories. A Federal Report on Wednesday is expected to show US gasoline inventories rose by 1 million barrels, following three consecutive weeks of sharp gains. According to data from the EIA, gas demand rose slightly from 8.05 to 8.14 million b/d last week while total domestic gasoline stocks increased by 1.7 million bbl to 232 million bbl. Meanwhile, AAA said that January’s weather was relatively mild in much of the nation, which led to more drivers hitting the road. However, a return of wintery conditions in February may see a revival of seasonal driving patterns. AAA added that with the cost of oil stubbornly hovering around $80 per barrel, drivers probably won’t catch a big break at the pump over the next week or two.

Historically, Gasoline reached an all time high of 4.33 in June of 2022. Gasoline - data, forecasts, historical chart - was last updated on February of 2023.

Gasoline is expected to trade at 2.69 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 3.03 in 12 months time.

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Price Day Month Year
Crude Oil 79.21 0.341 0.43% 2.71% -8.63%
Brent 85.56 0.097 0.11% 4.19% -4.37%
Natural gas 2.75 0.0652 2.43% -24.49% -45.50%
Gasoline 2.57 0.0020 0.08% 3.22% -1.47%
Heating Oil 3.14 -0.0077 -0.24% 4.63% 13.30%
Ethanol 2.19 0.0006 0.03% -3.92% 1.77%
Naphtha 692.17 0.61 0.09% 9.71% -13.95%
Propane 0.84 -0.001 -0.11% 8.82% -35.59%
Uranium 50.80 0 0% 3.99% 15.72%
Methanol 2,805.00 28.00 1.01% 6.65% -2.60%

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.
Actual Previous Highest Lowest Dates Unit Frequency
2.57 2.57 4.33 0.52 2005 - 2023 USD/GAL Daily