Gasoline Hits 4-week Low

Gasoline decreased 5.02% to 2.8179 USD/Gal

Gasoline in the US fell below $2.90 per gallon, the lowest level since June 26, as easing geopolitical tensions weighed on energy prices. US Treasury Secretary Scott Bessent said that there is a chance of a deal today or tomorrow to open the strait, while Qatar announced that a draft proposal to revive US-Iran negotiations was being circulated, although officials stressed that no agreement had yet been reached. Earlier, President Donald Trump delayed planned military strikes on Iran to allow more time for diplomacy. Meanwhile, gasoline prices remain more than 30% above year-ago levels, as limited US refining capacity continues to constrain fuel supplies and restrict the industry's ability to boost production. In Russia, the government extended its diesel and gasoline export ban through January 2027 as fuel shortages persisted amid continued Ukrainian strikes on major oil refineries.

Gasoline decreased to 2.94 USD/Gal, the lowest since July 2026. Over the past 4 weeks, Gasoline lost 1.59%, and in the last 12 months, it increased 41.47%.