Pre. Settlement | N/A |
Settlement date | 2025-11-28 |
Open | 2.0129 |
Bid | 2.0101 |
Last price | 1.9931 |
Day's range | 1.9873 - 2.0130 |
Volume | |
Ask | 2.0125 |
U.S. gasoline prices and refining margins have come under pressure as inventories deplete more slowly than normal for this time of year, indicating supplies are plentiful, and undermining the bullish case for the fuel. Just over a month ago, investors had amassed one of the largest bullish positions in U.S. gasoline futures and options since before the pandemic, anticipating that prices would continue climbing. Gasoline had become the most attractive part of the petroleum complex for investors to bet prices would rise further in the run-up to U.S. presidential and congressional elections in November.
Rising gasoline prices were one of the main reasons inflation stayed relatively hot in April, with overall prices rising 0.3% month over month. Gasoline prices rose 2.8% in April over March levels, one of the largest increases in the consumer price index. As of this week, the average gasoline price is $3.61 a gallon, according to the EIA, down from $3.64 a week ago.
(Bloomberg) -- Global gasoline demand will remain robust this summer despite recent signs of weakness in the market, according to Rystad Energy A/S, which expects consumption to top levels seen before the pandemic. Most Read from BloombergSlovak Premier Fighting for Life After Assassination AttemptChina Considers Government Buying of Unsold Homes to Save Property MarketHow One of the World's Oldest Hedge Funds Went BankruptUS Inflation Ebbs for First Time in Six Months in Relief for FedFlood of