Gasoline Hits 9-week Low

Gasoline decreased 5% to 2.9988 USD/Gal

Gasoline decreased to 3.02 USD/Gal, the lowest since August 2026. Over the past 4 weeks, Gasoline lost 6.98%, and in the last 12 months, it increased 57.57%.

US gasoline futures fell below $3.0 per gallon, their lowest level since late August, amid hopes for diplomatic efforts to ease Middle East tensions. Iranian negotiators held talks in Doha with Qatari mediators for a third consecutive day on Sunday aimed at reaching an agreement to end the US-Israeli war on Iran. Meanwhile, US Secretary of State Marco Rubio said on Saturday that President Trump had not made a decision on fresh strikes against Iran and that Washington remained open to a diplomatic solution. Additional pressure came from rising inventories and weaker demand. EIA data showed an unexpected 3.8 million-barrel increase in gasoline stocks in the week ended October 23, while gasoline supplied, a proxy for demand, fell by 624,000 bpd to 8.36 million bpd. However, inventories remained around 2% below their five-year seasonal average, while seasonal refinery maintenance and strong diesel production ahead of winter could limit gasoline output.