Gasoline Heads for Strongest Month on Record

2026-03-31 02:50 By Kyrie Dichosa 1 min. read

US gasoline futures hovered around $3.20 per gallon, heading for their strongest monthly gain on record of more than 30%, moving in line with crude as disruptions continue to affect roughly one-fifth of global oil transit.

The supply shock is largely driven by the near shutdown of the Strait of Hormuz, compounded by Houthi threats in the Red Sea that increase the risk of disruptions along another critical maritime route.

These pressures threaten to further tighten energy flows from the Middle East, with two of the world’s most vital trade arteries under strain.

Although reports of possible negotiations emerged during the month, including recent indications that President Trump is willing to end the military campaign in Iran even if the Strait remains largely closed, markets remained cautious.

Seasonal demand also provided support, as spring travel picks up and refineries switch to costlier summer fuel blends.



News Stream
Gasoline Futures Retreat
US gasoline futures eased to around $3.35 a gallon after reaching a high of $3.45 earlier in the session, although remaining elevated as the conflict in the Middle East shows no sign of waning. Iran warned of counterstrikes should the US hold military pressure, while Iran-backed Houthis have advanced control of the Bab al-Mandeb Strait. Ukrainian strikes on Russian infrastructure also squeezed its refined output. Meanwhile, the IEA cut its global oil demand outlook due to reduced supply and higher refined product prices. Additionally, EIA data showed that US gasoline inventories rose by 1.269 million barrels in the week ending September 4th, although fuel production declined even with US refineries operating near full capacity, as higher refining margins provide incentive to maximize production even as the broader oil system remains constrained. The average national regular gasoline price in the US climbed further to $4.3 a gallon on September 11th, according to AAA.
2026-09-11
Gasoline Climbs to Six-Week High
US gasoline futures rose to around $3.35 a gallon, reaching their highest level since late July, as tensions in the Middle East show no sign of waning, reducing the outlook for refined fuel supply. Tehran stated it would continue counterstrikes if attacks from the US military persist. Adding to the pressure, Saudi Arabia reported that its crude oil output in August plunged to its lowest level since 1990, as the war in the Middle East continued to disrupt its export routes. Saudi and Yemeni officials stated that the Houthis are now nearing complete control of the Bab al-Mandeb Strait, while Russia's energy infrastructure remains pressured from persistent Ukrainian strikes. Meanwhile, EIA data showed that US gasoline inventories rose by 1.269 million barrels in the week ending September 4th, although fuel production declined even as US refineries are operating near full capacity. According to AAA, the average national US regular gasoline price jumped to $4.28 a gallon on September 10th.
2026-09-10
Gasoline Hits 6-week High
Gasoline increased to 3.37 USD/Gal, the highest since July 2026. Over the past 4 weeks, Gasoline gained 7.1%, and in the last 12 months, it increased 70.57%.
2026-09-10