US gasoline futures rose above $3.20 per gallon, attempting to rebound from a five-week low, as fresh strikes in the Persian Gulf clouded prospects of a US–Iran deal that could reopen the Strait of Hormuz. Both sides reportedly launched new strikes, raising doubts over the viability of a concrete agreement amid ongoing talks, with Washington and Tehran remaining divided over key negotiating issues. Adding to tensions, the US Treasury sanctioned Iran’s Persian Gulf Strait Authority over an alleged IRGC-linked toll scheme in the strait. The back-and-forth developments since the conflict broke out in March have kept energy markets volatile, pushing gasoline futures to a four-year high in early May. Meanwhile, industry data showed US gasoline inventories fell by 3.2 million barrels in the week ending May 22. Separately, Russia is reportedly weighing restrictions on diesel and jet fuel exports as refinery operations come under pressure from escalating Ukrainian attacks.

Gasoline fell to 3.11 USD/Gal on May 28, 2026, down 0.74% from the previous day. Over the past month, Gasoline's price has fallen 13.41%, but it is still 53.31% higher than a year ago, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Historically, Gasoline reached an all time high of 4.33 in June of 2022. Gasoline - data, forecasts, historical chart - was last updated on May 28 of 2026.

Gasoline fell to 3.11 USD/Gal on May 28, 2026, down 0.74% from the previous day. Over the past month, Gasoline's price has fallen 13.41%, but it is still 53.31% higher than a year ago, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Gasoline is expected to trade at 3.51 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 3.93 in 12 months time.



Price Day Month Year Date
Crude Oil 88.69 0.011 0.01% -17.02% 45.54% May/28
Brent 94.11 -0.183 -0.19% -14.79% 48.55% May/28
Natural gas 3.16 0.0620 2.00% 19.27% -10.36% May/28
Gasoline 3.11 -0.0188 -0.60% -13.29% 53.53% May/28
Heating Oil 3.58 -0.0163 -0.45% -12.62% 74.85% May/28
Ethanol 2.00 0.0150 0.76% 0.13% 13.84% May/27
Naphtha 729.99 -45.24 -5.84% -21.80% 33.72% May/27
Propane 0.87 -0.003 -0.32% 6.76% 15.92% May/27
Uranium 85.30 0.3500 0.41% -1.95% 18.55% May/27
Methanol 3,039.00 37.00 1.23% -4.70% 35.73% May/28



Related Last Previous Unit Reference
United States API Gasoline Stocks -3.20 -5.80 BBL/1Million May 2026
United States Gasoline Prices 1.18 1.08 USD/Liter May 2026
United States Gasoline Production -446.00 222.00 Thousand Barrels May 2026
United States Gasoline Stocks Change -1548.00 -4084.00 Thousand Barrels May 2026

Gasoline
Gasoline is the largest refined petroleum product consumed in the United States, accounting for a significant share of total oil demand. It is a key fuel for transportation and an important indicator of consumer activity and economic conditions. Gasoline futures traded in the U.S. include reformulated gasoline blendstock for oxygen blending (RBOB), which is used as the benchmark for wholesale gasoline pricing. These contracts are traded on NYMEX and represent 42,000 gallons (equivalent to 1,000 barrels) per contract. Delivery is based at petroleum product terminals in New York Harbor, a major East Coast trading and distribution center for both domestic refinery output and imports. Gasoline prices displayed on Trading Economics are based on over-the-counter (OTC) and contract for difference (CFD) financial instruments and are intended to provide a general market reference only. These prices do not represent official benchmark prices. The data is supplied by a third party and, while efforts are made to ensure its reliability, Trading Economics does not verify the data and makes no representations or warranties.
Actual Previous Highest Lowest Dates Unit Frequency
3.11 3.13 4.33 -1.00 2005 - 2026 USD/GAL Daily

News Stream
Gasoline is down by 16.75%
Gasoline decreased 16.75% to 2.6088 USD/Gal
2026-05-28
Gasoline Futures Attempt to Rebound
US gasoline futures rose above $3.20 per gallon, attempting to rebound from a five-week low, as fresh strikes in the Persian Gulf clouded prospects of a US–Iran deal that could reopen the Strait of Hormuz. Both sides reportedly launched new strikes, raising doubts over the viability of a concrete agreement amid ongoing talks, with Washington and Tehran remaining divided over key negotiating issues. Adding to tensions, the US Treasury sanctioned Iran’s Persian Gulf Strait Authority over an alleged IRGC-linked toll scheme in the strait. The back-and-forth developments since the conflict broke out in March have kept energy markets volatile, pushing gasoline futures to a four-year high in early May. Meanwhile, industry data showed US gasoline inventories fell by 3.2 million barrels in the week ending May 22. Separately, Russia is reportedly weighing restrictions on diesel and jet fuel exports as refinery operations come under pressure from escalating Ukrainian attacks.
2026-05-28
Gasoline Futures Fall to Over 5-Week Low
US gasoline futures held around $3.10 per gallon, near its lowest level in more than five weeks, after Iranian media reported obtaining an unofficial draft of a potential agreement to end the war with Iran, raising hopes that the Strait of Hormuz could soon reopen. According to state television, the draft memorandum suggests US forces would ease their naval blockade and withdraw from waters near Iran, while Tehran would restore shipping flows through Hormuz, a key route for around 20% of global oil and LNG trade. Although no agreement has been finalized, markets reacted positively to signs that indirect talks between Washington and Tehran are continuing. US Secretary of State Marco Rubio said any peace deal could still take several days to complete. Separately, Russia is reportedly considering limits on diesel and jet fuel exports as refinery activity weakens amid escalating Ukrainian attacks.
2026-05-27