Gasoline ($GASOLINE) Commodity Forecast: Up 5.1% Today

What is Gasoline?

Gasoline is a key commodity in the energy market, with its price closely tied to crude oil and global economic conditions. Today, Gasoline experienced a strong bullish movement amidst a backdrop of market volatility and concerns over supply and demand dynamics.

Why is Gasoline going up?

GASOLINE commodity is up 5.1% on Apr 9, 2025 23:17

• Gasoline futures surged despite hitting a multi-month low, as fears of a global economic slowdown and escalating trade tensions between countries weighed on energy markets.
• The unexpected decision to increase oil output by 411,000 barrels per day for May, well above market expectations, contributed to concerns about oversupply and a potential glut in the oil market, impacting Gasoline prices.
• President Trump's imposition of tariffs on various countries, coupled with retaliatory measures, added to market uncertainty and the risk of a broader economic slowdown, further influencing the bullish movement in Gasoline prices.
• Despite a slight draw in gasoline stocks, the broader market selloff, supply glut worries, and weakening demand outlook due to trade tensions and economic uncertainties played a significant role in driving Gasoline prices higher today.

GASOLINE Price Chart

GASOLINE Technical Analysis

GASOLINE News

Gasoline Futures Fall to Over 4-Month Low

US gasoline futures dropped to $1.90 per gallon in April, the lowest since December, as fears of a global slowdown hit energy and equity markets. Prices fell alongside crude oil, driven by rising tensions in the US-China trade war. President Trump imposed steep tariffs on dozens of countries, including a 104% duty on many Chinese imports. In retaliation, China hiked tariffs on US goods to 84% starting April 10, and the EU approved duties on $23 billion worth of US products. At the same time, OPEC+ surprised markets by speeding up oil output increases, raising concerns about a supply glut. On the data front, the EIA reported a rise in US crude inventories, while gasoline stocks fell by 1.6 million barrels—slightly more than expected. Despite the draw in gasoline, the broader market selloff and supply concerns weighed more heavily on prices.

Gasoline Futures Falls to 4-Month Low

US gasoline futures fell to $2 per gallon in April, a four-month low, tracking declines in oil and global equities as the tariff-driven market selloff deepened. Fears that President Trump’s trade restrictions will slow economic growth have pressured commodity prices, with traders bracing for weaker energy demand. China escalated the trade war by imposing 34% tariffs on US goods, fueling recession concerns. While oil, gas, and refined product imports were exempt from Trump’s new tariffs, the broader policies risk stoking inflation and slowing growth, further weighing on energy markets. Meanwhile, OPEC+ surprised markets by announcing a 411,000 bpd output increase for May—well above the expected 135,000—signaling a shift toward a looser global oil supply.

Gasoline Drops to 6-Week Low

US gasoline futures fell below $2.04 per gallon in April, the lowest in six weeks, tracking crude oil lower amid signs of oversupply and deepening concerns about weakening demand. Crude prices plunged more than 7% to levels last seen in August 2021 following OPEC+’s surprise move to boost output by 411,000 barrels per day in May—well above the previously anticipated 135,000 bpd increase—suggesting a looser global oil market. Additionally, President Trump’s imposition of a 10% baseline tariff on most imports, coupled with the threat of steeper duties, compounded by China’s looming 34% retaliatory levy on U.S. goods, has intensified fears of a global trade war, heightening the risk of a broad-based economic slowdown that could erode transportation fuel consumption and energy demand. Although energy products are largely exempt from new U.S. trade barriers, the macroeconomic fallout remains a key threat to demand.

Gasoline Hits 5-week Low

Gasoline decreased to a 5-week low of 2.07 USD/Gal. Over the past 4 weeks, Gasoline lost 2.68%, and in the last 12 months, it decreased 25.17%.

Gasoline Drops Further After OPEC+

US gasoline futures fell below $2.15 per gallon, the lowest in two weeks, tracking crude oil lower amid increased supply and heightened concerns over demand. Crude oil prices tumbled after eight OPEC+ countries unexpectedly announced a 411,000-barrel-per-day production increase for May—far exceeding the planned 135,000 bpd—signaling ample supply. Additionally, concerns over Trump’s sweeping new tariffs fueled fears of a global trade war that could slow economic growth and curb fuel demand. The policy imposes a 10% minimum tariff on most imports, with higher duties on select countries, but exempts oil, gas, and refined products. Meanwhile, US crude inventories surged by 6.2 million barrels last week, defying expectations of a decline, while gasoline stockpiles fell 1.6 million barrels, slightly more than anticipated. Gasoline demand dropped to 8.5 million barrels per day.

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Gasoline Price History

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.

09.03.2025 - GASOLINE Commodity was up 5.1%

• Gasoline futures surged despite hitting a multi-month low, as fears of a global economic slowdown and escalating trade tensions between countries weighed on energy markets.
• The unexpected decision to increase oil output by 411,000 barrels per day for May, well above market expectations, contributed to concerns about oversupply and a potential glut in the oil market, impacting Gasoline prices.
• President Trump's imposition of tariffs on various countries, coupled with retaliatory measures, added to market uncertainty and the risk of a broader economic slowdown, further influencing the bullish movement in Gasoline prices.
• Despite a slight draw in gasoline stocks, the broader market selloff, supply glut worries, and weakening demand outlook due to trade tensions and economic uncertainties played a significant role in driving Gasoline prices higher today.

09.03.2025 - GASOLINE Commodity was down 5.2%

• Gasoline futures plummeted to multi-week lows due to a combination of factors, including:
• OPEC+ announcing a substantial 411,000 bpd output increase for May, signaling oversupply in the global oil market.
• President Trump's trade restrictions and the escalating trade war with China, heightening fears of a global economic slowdown and reduced energy demand.
• Surging US crude inventories and falling gasoline stockpiles, indicating weakening demand for gasoline.
• The exemption of oil, gas, and refined products from Trump's tariffs provided some relief, but broader economic concerns continued to weigh heavily on the energy markets.
• Traders are closely monitoring OPEC+ meetings for potential output adjustments to counterbalance oversupply issues exacerbated by record production from countries like Kazakhstan, adding further uncertainty to Gasoline's future trajectory.

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.

31.02.2025 - GASOLINE Commodity was up 1.9%

• Gasoline hitting a 4-week high could be attributed to the following:
• Increased demand for gasoline due to the easing of COVID-19 restrictions leading to more travel and economic activities.
• Supply constraints or disruptions in the oil refining process, impacting gasoline production.
• Speculative trading or investor sentiment driving up prices in anticipation of future demand.
• The 4-week high indicates a bullish sentiment in the gasoline market, potentially fueled by a combination of these factors.

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.

03.03.2025 - GASOLINE Commodity was down 5.4%

• Gasoline prices hit a 7-month high due to a combination of factors such as increasing demand with the onset of the spring travel season, tightening supply dynamics, and elevated refinery input costs.
• The surge in demand coinciding with declining domestic inventories and reduced production contributed to the bullish trend.
• Higher crude oil prices, driven by global supply constraints and tariffs on Canadian crude, added to the cost pressures on refineries, impacting gasoline prices negatively.
• Despite the recent 4-week high, the overall trend for gasoline in the past year has been a significant decrease, indicating potential volatility and sensitivity to market dynamics.

03.03.2025 - GASOLINE Commodity was down 7.0%

• Gasoline futures dropped significantly due to increased supply and concerns over demand, following a decision by OPEC+ countries to raise production levels beyond expectations.
• Trump's new tariffs also contributed to the bearish trend, fueling fears of a global trade war that could slow economic growth and reduce fuel demand.
• The unexpected surge in US crude inventories and a decline in gasoline stockpiles added to the downward pressure on Gasoline prices.
• Overall, the combination of oversupply, trade war fears, and inventory data led to the bearish market movement in Gasoline today.

03.03.2025 - GASOLINE Commodity was down 7.0%

• The bearish movement in Gasoline prices today can be attributed to concerns over new tariffs, which have sparked fears of a global trade war that could potentially slow economic growth and reduce fuel demand.
• Additionally, the unexpected surge in US crude inventories by 6.2 million barrels, coupled with a drop in gasoline demand to 8.5 million barrels per day, has added downward pressure on Gasoline prices.
• The outcome of a recent meeting, where tensions over record production from Kazakhstan and calls for further output cuts persist, has also contributed to the bearish sentiment in the Gasoline market.
• Overall, the combination of trade uncertainties, supply-demand imbalances, and geopolitical tensions has led to the bearish movement in Gasoline prices today.

04.03.2025 - GASOLINE Commodity was down 5.1%

• Gasoline prices dropped significantly to multi-week lows due to a combination of factors:
• An announcement of a larger-than-expected production increase by OPEC+, signaling oversupply in the oil market and putting downward pressure on prices.
• Concerns over a global trade war intensified by recent tariffs, which could potentially slow economic growth and reduce fuel demand.
• Rising US crude inventories and falling gasoline stockpiles also contributed to the bearish sentiment, indicating weaker demand for gasoline.
• The seasonal uptick in demand during the spring travel season was not enough to offset the impact of supply concerns and increased input costs for refineries, leading to the downward pressure on Gasoline prices.
• Traders are closely monitoring the OPEC+ meeting outcomes and potential production adjustments to address the oversupply issue and stabilize prices in the energy market.

04.03.2025 - GASOLINE Commodity was down 6.2%

• Gasoline prices decreased significantly today, reaching a 5-week low of $2.07 per gallon.
• The decline in gasoline prices can be linked to worries about higher supply following an unexpected production boost by OPEC+ nations, resulting in ample supply in the market.
• Moreover, concerns about a global trade conflict stemming from new tariffs imposed by a prominent figure have sparked worries about sluggish economic growth and decreased fuel demand, impacting gasoline prices negatively.
• The interaction of heightened supply, decreased demand, and geopolitical uncertainties has contributed to today's downward trend in gasoline prices.