US gasoline futures rebounded by more than 2% to $2.1 a gallon on Tuesday, tracking gains in crude oil prices amid fading concerns about the omicron coronavirus variant. Initial hospitalizations data in South Africa, where it is thought to be the epicenter of the strain, showed little evidence of an expected resurgence of occupied beds. Additionally, Saudi Aramco raised crude prices bound to Asia and the US, signalling optimism about global oil demand days after the company’s CEO said markets had overreacted to the omicron scare. Meanwhile, traders have been monitoring bids for the first 32 million crude barrels from the US Strategic Petroleum Reserves release.

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

Gasoline is expected to trade at 1.90 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 1.75 in 12 months time.

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Price Day Month Year
Crude Oil 72.65 0.3100 0.43% -12.00% 59.60%
Brent 76.01 0.6500 0.86% -10.34% 55.57%
Natural gas 3.82 0.1080 2.91% -23.36% 56.27%
Gasoline 2.15 0.0163 0.78% -9.42% 68.62%
Heating Oil 2.26 0.0367 1.65% -9.84% 61.65%
Ethanol 2.88 0.0300 1.05% -5.73% 121.54%
Naphtha 687.75 22.50 3.38% -9.36% 65.06%
Propane 1.01 0.003 0.34% -27.23% 73.38%
Uranium 45.85 -0.2000 -0.43% 0.55% 54.12%
Methanol 2,625.00 -10.00 -0.38% -9.64% 22.89%

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.