US gasoline futures fell below $3.47 per gallon, after reaching the highest level since the end of May, as the US-Iran conflict escalated to the Bab el-Mandeb Strait, fueling concerns over further disruptions to energy supply. Nearing a second consecutive week of strikes, a new front in the conflict opened in the Red Sea after President Donald Trump said Iran would be held responsible for any further attacks, following claims by Iran-backed Houthi rebels of strikes on two Saudi oil tankers. Tankers have increasingly avoided the Bab el-Mandeb Strait, raising the risk of another disruption to a key global shipping route. Adding to the pressure, earlier Ukrainian strikes on 24 out of 34 largest Russian refineries, and US refineries running at 96.1% of their capacity, further weighed on refined supply outlook. Still, fuel supplies in Russia showed signs of improving after Ukraine shifted attacks away from major oil refineries toward maritime targets.

Gasoline fell to 3.40 USD/Gal on July 24, 2026, down 2.89% from the previous day. Over the past month, Gasoline's price has risen 16.99%, and is up 62.34% compared to the same time last year, 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 July 24 of 2026.

Gasoline fell to 3.40 USD/Gal on July 24, 2026, down 2.89% from the previous day. Over the past month, Gasoline's price has risen 16.99%, and is up 62.34% compared to the same time last year, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Gasoline is expected to trade at 3.49 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 3.87 in 12 months time.



Price Day Month Year Date
Crude Oil 89.72 -2.470 -2.68% 24.75% 37.69% Jul/24
Brent 97.19 -3.500 -3.48% 28.73% 42.01% Jul/24
Natural gas 2.93 0.0168 0.58% -10.99% -7.13% Jul/24
Gasoline 3.40 -0.0985 -2.82% 17.07% 62.46% Jul/24
Heating Oil 4.19 -0.1473 -3.39% 30.70% 74.31% Jul/24
Ethanol 1.94 0.0150 0.78% 3.48% 9.32% Jul/23
Naphtha 833.63 18.35 2.25% 22.63% 51.71% Jul/23
Propane 0.77 0.01 1.71% 10.15% 7.29% Jul/23
Uranium 85.85 0.1000 0.12% 0.23% 18.74% Jul/23
Methanol 2,732.00 -2.00 -0.07% 9.24% 9.76% Jul/24



Related Last Previous Unit Reference
United States API Gasoline Stocks -1.38 -1.66 BBL/1Million Jul 2026
United States Gasoline Prices 1.07 1.18 USD/Liter Jun 2026
United States Gasoline Production 60.00 -96.00 Thousand Barrels Jul 2026
United States Gasoline Stocks Change 765.00 -1533.00 Thousand Barrels Jul 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
3.40 3.50 4.33 -1.00 2005 - 2026 USD/GAL Daily

News Stream
Gasoline Reaches Highest Since May
US gasoline futures fell below $3.47 per gallon, after reaching the highest level since the end of May, as the US-Iran conflict escalated to the Bab el-Mandeb Strait, fueling concerns over further disruptions to energy supply. Nearing a second consecutive week of strikes, a new front in the conflict opened in the Red Sea after President Donald Trump said Iran would be held responsible for any further attacks, following claims by Iran-backed Houthi rebels of strikes on two Saudi oil tankers. Tankers have increasingly avoided the Bab el-Mandeb Strait, raising the risk of another disruption to a key global shipping route. Adding to the pressure, earlier Ukrainian strikes on 24 out of 34 largest Russian refineries, and US refineries running at 96.1% of their capacity, further weighed on refined supply outlook. Still, fuel supplies in Russia showed signs of improving after Ukraine shifted attacks away from major oil refineries toward maritime targets.
2026-07-23
Gasoline Hits 9-week High
Gasoline increased to 3.49 USD/Gal, the highest since May 2026. Over the past 4 weeks, Gasoline gained 20.88%, and in the last 12 months, it increased 65.17%.
2026-07-23
Gasoline Near 2-Month High
US gasoline prices rose to around $3.45 per gallon, near their highest level since late May, as concerns over broader supply disruptions in the Middle East intensified. Iran-backed Houthi militants claimed attacks on two Saudi oil tankers, heightening fears of further disruptions to global oil flows as risks in the Red Sea added to those in the Strait of Hormuz. President Trump warned of strikes on Iranian infrastructure if shipping through the strait is attacked. Attacks on the Caspian Pipeline Consortium's Black Sea terminal also fueled supply concerns. Limiting some gains, fuel supplies in Russia showed signs of improving after Ukraine shifted attacks away from major oil refineries toward maritime targets. Meanwhile, EIA data showed US gasoline inventories increased by 0.765 million barrels in the week ended July 17, recovering from the previous week but remaining 7% below the five-year seasonal average.
2026-07-23