Gasoline futures were trading at $1.99 per gallon, a level not seen since July of 2019, on optimism over demand recovery on the back of a gradual reopening of the US economy. Markets were already basking in the glow of the slow return of US production after last month's deep freeze in Texas.
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Historically, Gasoline reached an all time high of 3.63 in July of 2008. Gasoline - data, forecasts, historical chart - was last updated on March of 2021.
Gasoline is expected to trade at 1.97 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 1.65 in 12 months time.