Gasoline futures for delivery at the New York Harbor rose above $3.50 per gallon, climbing back toward their four-year high, as fresh clashes in the Middle East heightened worries over prolonged energy supply disruptions. The US and Iran traded attacks in the Strait of Hormuz, with each side blaming the other for sparking the clash, raising doubts about the month-long ceasefire. Traffic through the Strait of Hormuz has remained suspended since early March, disrupting the flow of roughly 20 million barrels per day of oil and refined fuels to key importing nations. At the same time, shortages of diesel and jet fuel in Europe and Asia prompted major refiners to shift more capacity toward distillate production rather than gasoline, worsening supply concerns. As a result, US gasoline inventories fell for an 11th consecutive week, further tightening stockpiles ahead of the peak summer demand season.

Gasoline fell to 3.44 USD/Gal on May 8, 2026, down 0.52% from the previous day. Over the past month, Gasoline's price has risen 14.58%, and is up 62.79% 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 May 8 of 2026.

Gasoline fell to 3.44 USD/Gal on May 8, 2026, down 0.52% from the previous day. Over the past month, Gasoline's price has risen 14.58%, and is up 62.79% 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 3.67 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 4.07 in 12 months time.



Price Day Month Year Date
Crude Oil 94.78 -0.029 -0.03% -3.16% 55.33% May/08
Brent 100.29 0.232 0.23% 4.56% 56.93% May/08
Natural gas 2.81 0.0401 1.45% 5.21% -25.98% May/08
Gasoline 3.44 -0.0114 -0.33% 14.79% 63.10% May/08
Heating Oil 3.83 0.0086 0.23% -2.84% 84.72% May/08
Ethanol 1.97 -0.0600 -2.96% 0.77% 14.58% May/06
Naphtha 827.24 -70.33 -7.84% -18.13% 56.63% May/06
Propane 0.86 -0.03 -3.53% 10.58% 21.59% May/06
Uranium 86.25 0 0% 0.52% 23.39% May/07
Methanol 3,031.00 -44.00 -1.43% -3.78% 31.61% May/08



Related Last Previous Unit Reference
United States API Gasoline Stocks -6.10 -8.47 BBL/1Million May 2026
United States Gasoline Prices 1.08 0.96 USD/Liter Apr 2026
United States Gasoline Production -275.00 -238.00 Thousand Barrels May 2026
United States Gasoline Stocks Change -2504.00 -6075.00 Thousand Barrels May 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
3.44 3.46 4.33 -1.00 2005 - 2026 USD/GAL Daily

News Stream
Gasoline Rises Back Toward 4-Year High
Gasoline futures for delivery at the New York Harbor rose above $3.50 per gallon, climbing back toward their four-year high, as fresh clashes in the Middle East heightened worries over prolonged energy supply disruptions. The US and Iran traded attacks in the Strait of Hormuz, with each side blaming the other for sparking the clash, raising doubts about the month-long ceasefire. Traffic through the Strait of Hormuz has remained suspended since early March, disrupting the flow of roughly 20 million barrels per day of oil and refined fuels to key importing nations. At the same time, shortages of diesel and jet fuel in Europe and Asia prompted major refiners to shift more capacity toward distillate production rather than gasoline, worsening supply concerns. As a result, US gasoline inventories fell for an 11th consecutive week, further tightening stockpiles ahead of the peak summer demand season.
2026-05-08
Gasoline Sinks from 4-Year High
Gasoline futures for delivery at the New York Harbor fell toward $3.40 per gallon, extending its retreat from a four-year high of $3.75, as the potential end to the war between the US and Iran improved the Middle East supply outlook. Reports indicated that the US was close to agreeing on a memorandum to end the conflict with Iran. An end to the war would likely start the process of restoring tanker flows through the Strait of Hormuz, enabling GCC from exporting their full storages of fuel. Shipping activity through Hormuz has been halted since the start of March, disrupting 20 million bpd of oil and refined products for major importers. On top of that, jet fuel and diesel shortages in Europe and Asia drove major energy producers to prioritize their refining capacity for distillates instead of motor gasoline, exacerbating supply risks. Consequently, US gasoline stocks sank for the 11th straight week, depleting inventory ahead of the high-demand summer season.
2026-05-06
Gasoline Futures Extend Drop
US gasoline futures fell below $3.50 per gallon, extending their retreat from a near four-year high on hopes of de-escalation in the Middle East conflict. President Donald Trump said efforts to guide stranded vessels out of the Strait of Hormuz would be temporarily paused to allow space to finalize a settlement with Iran aimed at ending the war, though he maintained his blockade of Iranian ports. His remarks came after Secretary of State Marco Rubio said the ceasefire in the Middle East remains intact and that the initial major US military operation against Iran has concluded, further calming markets. Meanwhile, Iran denied carrying out attacks against the UAE and warned of a “decisive response” if Abu Dhabi launches strikes on its territory. On the fundamentals side, the EIA reported increased gasoline demand for the week ending April 24, alongside a decline inventories and slightly lower production.
2026-05-06