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.
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.