Gasoline ($GASOLINE) Commodity Forecast: Up 15.4% Today

What is Gasoline?

Gasoline is a key commodity in the energy market, used primarily as fuel for vehicles. Its price is influenced by various factors including oil prices, supply and demand dynamics, and geopolitical events.

Why is Gasoline going up?

GASOLINE commodity is up 15.4% on Feb 28, 2025 3:06

• Gasoline prices surged today, hitting a 26-week peak at $2.24 USD/Gal.
• The rise in gasoline costs is linked to declining domestic inventories, increasing demand, and geopolitical tensions impacting oil prices.
• Despite worries about global supply and economic outlook, the uptick in gasoline prices signals positive market sentiment and potential for further growth in the short term.
• Traders are advised to closely track oil price movements, demand patterns, and geopolitical shifts to anticipate future trends in gasoline pricing.

GASOLINE Price Chart

GASOLINE Technical Analysis

GASOLINE News

Gasoline Hits 26-week High

Gasoline increased to a 26-week high of 2.24 USD/Gal. Over the past 4 weeks, Gasoline lost 2.66%, and in the last 12 months, it decreased 21.51%.

Gasoline Futures Fall to 2-Month Low

US gasoline futures dropped below $1.94 per gallon, the lowest since December 22, due to rising domestic inventories and weaker oil prices. The EIA reported an unexpected increase in gasoline stocks by 369,000 barrels to 248.3 million, despite a rise in gasoline demand to 8.45 million barrels per day (b/d) from 8.24 million b/d. Production remained steady at 9.2 million b/d. Falling oil prices also added pressure, with WTI crude nearing $69 per barrel amid concerns over rising supply and slowing demand. Hopes for a Russia-Ukraine peace deal raised the possibility of lifting Russian sanctions, which could increase global oil supply. Meanwhile, fears that President Trump’s tariffs on China and other trading partners could slow economic growth added to worries about future energy demand.

Gasoline Hits 6-week Low

Gasoline decreased to a 6-week low of 2.01 USD/Gal. Over the past 4 weeks, Gasoline lost 1.32%, and in the last 12 months, it decreased 21.07%.

Gasoline Futures Retreat Toward 1-Month Low

US gasoline futures fell toward a one-month low of around $2 per gallon due to weak demand and lower oil prices. The Energy Information Administration (EIA) reported that gasoline demand dropped from 8.57 million barrels per day (b/d) in the week ending February 14th to 8.23 million b/d. Domestic gasoline supply also declined slightly from 248.1 million barrels to 247.9 million, while production averaged 9.2 million b/d. Meanwhile, WTI crude prices fell due to geopolitical developments. Although sanctions on Russian oil exports have disrupted global supply flows, an end to the war in Ukraine may not immediately increase Russian output due to OPEC+ production limits. Additionally, pressure from the US on Iraq to resume oil exports from Kurdistan could increase supply, as Iraq prepares to export 185,000 b/d through the Iraq-Turkey pipeline once shipments resume.

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Gasoline Price History

30.07.2024 - GASOLINE Commodity was down 5.0%

• Gasoline futures experienced a bearish movement due to weaker global demand and economic uncertainties, including slowdowns in key markets like China and reduced diesel demand in Europe.
• The rebound in gasoline prices was driven by rising oil prices as a dovish US Fed pressured the dollar, boosting dollar-priced energy commodities.
• Signs of weakening demand from major economies and potential delays in OPEC+ output cuts contributed to speculation that supported energy prices.
• The fluctuation in gasoline prices highlights the volatility in the energy market, where supply and demand dynamics, geopolitical factors, and economic indicators play a significant role in price movements.

04.08.2024 - GASOLINE Commodity was down 5.0%

• Gasoline prices have been on a downward trend, hitting multi-month lows due to a combination of factors:
• Weaker global demand and economic uncertainties, particularly slowdowns in key markets like China and reduced diesel demand in Europe, are contributing to the downward pressure on gasoline prices.
• OPEC's decision to maintain gradual output cuts next month, despite signs of lower fuel demand, is further impacting prices negatively.
• Concerns over an energy oversupply due to subdued domestic demand in China, as highlighted by major Chinese oil producers and refiners cautioning about the situation, are also weighing on gasoline prices.
• The anticipation of a decline in gasoline inventories, as indicated by consecutive weeks of decreasing stocks, is not enough to offset the broader bearish sentiment in the market.

01.09.2024 - GASOLINE Commodity was up 1.7%

• Gasoline prices are under pressure due to ongoing worries about sluggish demand, especially impacted by economic struggles in China that are dampening fuel consumption.
• Anticipated increase in crude oil supply, potentially through Saudi Arabia easing production cuts and Libya settling export disputes, is further depressing gasoline prices.
• The market is experiencing a decline in gasoline futures as a result of subdued demand and potential oversupply, despite attempts to stimulate consumption and resolve supply challenges.

08.09.2024 - GASOLINE Commodity was down 5.3%

• Gasoline futures dropped to $2 per gallon today, a significant shift from a 6-week high, despite the recent bullish trend.
• The unexpected increase in gasoline inventories by 1.119 million barrels led to this decline, contrary to market expectations of a decrease.
• Geopolitical tensions in the Middle East, especially between Iran and Israel, have raised concerns about potential disruptions in oil supply chains, causing oil prices to surge and exerting pressure on gasoline futures.
• President Biden's lack of direct opposition to a potential Israeli attack on Iran's oil facilities has added a risk premium to oil futures, contributing to the downward movement in gasoline prices.

03.09.2024 - GASOLINE Commodity was up 5.2%

• The Middle East's geopolitical tensions, specifically the situation between Iran and Israel, amplified concerns about potential disruptions in the oil market, prompting increases in oil prices and subsequently lifting gasoline futures.
• Positive US economic data, which included encouraging labor market statistics and a surge in the ISM Services PMI, suggested a strong demand for fuel, further reinforcing the market's bullish trend in gasoline prices.
• Despite an unforeseen uptick in gasoline stockpiles, the overall market sentiment leaned more heavily on geopolitical aspects and economic indicators, overshadowing the impact of the inventory rise on gasoline futures.
• The convergence of heightened geopolitical uncertainties and positive economic signals resulted in the notable increase in gasoline prices, underlining the complex relationship between global occurrences and commodity markets.

03.09.2024 - GASOLINE Commodity was up 5.2%

• Gasoline prices surged to a 4-week high of $2 per gallon as oil prices spiked due to escalating tensions in the Middle East. The launch of ballistic missiles by Iran at Israel raised concerns about potential disruptions in oil supply from the region, leading to a rally in oil prices and subsequently pushing up gasoline futures.
• Despite the recent increase, Gasoline remains near February-2021 lows as worries persist over weak demand exacerbated by China's economic struggles and the possibility of increased crude oil supply from Saudi Arabia and Libya. These factors are putting downward pressure on Gasoline prices despite the short-term spike driven by geopolitical tensions in the Middle East.
• The fluctuations in Gasoline prices highlight the intricate interplay between geopolitical events, global supply dynamics, and demand concerns, underscoring the volatility and sensitivity of energy markets to external factors beyond just traditional supply and demand fundamentals.

04.01.2025 - GASOLINE Commodity was down 5.0%

• Gasoline futures dropped due to escalating trade tensions between the US and China, leading to retaliatory tariffs on various US exports, including crude oil.
• The weaker-than-expected US economic growth and speculation of Fed rate cuts in March contributed to a rebound in gasoline futures, as a weaker dollar made commodities more appealing.
• President Trump's tariff threats on Canadian and Mexican imports, along with a surge in gasoline inventories, added pressure on oil-related commodities, impacting the bearish movement in gasoline prices today.

03.01.2025 - GASOLINE Commodity was down 0.5%

• Gasoline futures experienced a bearish movement despite a slight rebound today.
• The weaker-than-expected US economic growth and speculation over Fed rate cuts in March put pressure on the dollar, making commodities priced in it more attractive, including gasoline.
• The surge in gasoline inventories, exceeding forecasts, added to the bearish sentiment as oversupply concerns weighed on prices.
• Geopolitical tensions, such as tariff threats and calls for lower oil prices by a notable figure, also contributed to the downward pressure on gasoline prices.

03.05.2024 - GASOLINE Commodity was down 2.1%

• Gasoline futures dropped to a 3-month low due to evidence of slowing demand and ample availability, with US inventories increasing by over 2 million barrels, contrary to market expectations.
• The decrease in product supplied, a key indicator of consumer demand, by 166 thousand barrels right before Memorial Day weekend also contributed to the bearish movement.
• Investors are closely monitoring the upcoming OPEC+ meeting where the cartel is expected to extend voluntary output cuts. The struggle of key oil-exporting nations to comply with production cuts raises skepticism over their ability to react to slowing demand, adding further pressure on gasoline prices.

29.01.2024 - GASOLINE Commodity was up 8.3%

• Gasoline futures experienced a strong bullish movement due to a combination of factors:
• Recent evidence of low supply and steady demand, with gasoline demand rising and stocks decreasing, leading to a bullish sentiment in the market.
• The decision by a government to ban gasoline exports for six months to address domestic demand and refinery maintenance concerns added to the bullish outlook.
• Anticipation of a draw in gasoline inventories for the fourth consecutive period, coupled with geopolitical tensions affecting WTI crude futures, further supported the bullish trend.
• Despite signs of slowing demand and stable supply in previous weeks, the current market sentiment shifted positively, driven by the latest data and geopolitical developments.

28.01.2025 - GASOLINE Commodity was up 15.1%

• Gasoline futures surged due to a combination of factors such as rising domestic inventories, weaker oil prices, and concerns over global supply.
• The unexpected increase in gasoline stocks, coupled with weaker demand and falling oil prices, exerted downward pressure on Gasoline prices.
• Geopolitical developments, including hopes for a Russia-Ukraine peace deal and potential lifting of Russian sanctions, added uncertainty to the market, impacting the bullish movement in Gasoline prices.
• Overall, the bearish market movement in Gasoline can be attributed to a complex interplay of supply-demand dynamics, geopolitical tensions, and economic growth concerns.

28.01.2025 - GASOLINE Commodity was up 15.4%

• Gasoline prices surged today, hitting a 26-week peak at $2.24 USD/Gal.
• The rise in gasoline costs is linked to declining domestic inventories, increasing demand, and geopolitical tensions impacting oil prices.
• Despite worries about global supply and economic outlook, the uptick in gasoline prices signals positive market sentiment and potential for further growth in the short term.
• Traders are advised to closely track oil price movements, demand patterns, and geopolitical shifts to anticipate future trends in gasoline pricing.