Gasoline

Gasoline futures were trading around $4.20-per-gallon, not far from a record peak of $4.33 touched earlier this week, underpinned by robust demand and tighter supplies. With the peak driving season approaching in the US and Europe, demand remains elevated, with EIA expecting US gasoline consumption from April to September to climb almost 1% this year. At the same time, according to the International Energy Agency, total demand is estimated to rise by 1.3% this year. On top of that, the latest EIA data showed gasoline stocks fell by 0.711 million barrels. Historically, Gasoline reached an all time high of 4.33 in June of 2022. Gasoline is the largest single volume refined product sold in the United States accounting for almost half of national oil consumption. The NYMEX Division New York harbor unleaded gasoline futures contract and reformulated gasoline blendstock for oxygen blending (RBOB) futures contract trade in units of 42,000 gallons (1,000 barrels). They are based on delivery at petroleum products terminals in the harbor, the major East Coast trading center for imports and domestic shipments from refineries in the New York harbor area or from the Gulf Coast refining centers. The Gasoline prices displayed in Trading Economics are based on over-the-counter (OTC) and contract for difference (CFD) financial instruments. Our Gasoline prices are intended to provide you with a reference only, rather than as a basis for making trading decisions. Trading Economics does not verify any data and disclaims any obligation to do so.

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