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.



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