Gasoline ($GASOLINE) Commodity Forecast: Up 5.3% Today

What is Gasoline?

Gasoline is a key commodity in the energy market, with its prices heavily influenced by factors such as global demand, geopolitical tensions, and supply disruptions. Today, Gasoline experienced a strong bullish movement, reaching its highest levels since July 2022.

Why is Gasoline going up?

GASOLINE commodity is up 5.3% on Mar 18, 2026 13:10

• Gasoline prices surged to over $3 per gallon, driven by heightened spring demand and elevated crude oil prices due to ongoing conflicts in certain regions which disrupted oil and LNG flows.
• The closure of a vital global energy transportation route has further exacerbated supply concerns, leading to a broad surge in commodities and pushing pump prices to multi-year highs.
• Efforts to ease supply strains, such as the release of emergency reserves by certain entities, have done little to alleviate market fears of prolonged disruptions. Traders are closely monitoring the situation in specific regions for potential impacts on global supply chains.
• Geopolitical tensions and the threat of continued disruptions in key oil-producing regions are likely to keep Gasoline prices elevated in the near term, posing challenges for consumers and policymakers dealing with various pressures and uncertainties.

GASOLINE Price Chart

GASOLINE Technical Analysis

GASOLINE News

US Gasoline Futures Highest Since July 2022

US gasoline futures climbed to around $3.07 per gallon, the highest since July 2022, supported by stronger spring demand and elevated crude prices, which have repeatedly moved above $100 per barrel amid the ongoing conflict in Iran. Brent has held near $104, with energy markets sharply higher since the war began due to the effective closure of the Strait of Hormuz, a key route for global oil and LNG flows. The disruption has driven a broad surge in commodities and pushed US pump prices to multi year highs, raising concerns about inflation and economic spillovers. Seasonal factors are also adding pressure as demand rises during spring travel and refineries switch to more expensive summer fuel blends. To ease supply strains, the US plans to release 172 million barrels from reserves as part of a wider global effort, though sustained high prices could weigh on consumer sentiment and the political outlook.

Gasoline Hits 3-1/2-year High

Gasoline increased to 3.07 USD/Gal, the highest since July 2022. Over the past 4 weeks, Gasoline gained 60.26%, and in the last 12 months, it increased 40.67%.

Gasoline Extends Advance

US gasoline futures climbed further to above $3 per gallon, their highest level since July 2022, as traders assess how long the Middle East war might continue to disrupt global supply. The conflict now entered its third week, putting oil infrastructure at risk and keeping the Strait of Hormuz shut. Last Friday, the US struck military sites on Kharg Island, a crucial outpost in the Persian Gulf from which Iran exports around 90% of its oil, and warned that the island could also be targeted if Tehran interferes with transit through the Strait of Hormuz. Despite recent attempts by the US to ease supply concerns by issuing a 30-day license allowing countries to purchase stranded Russian oil and petroleum products and the IEA’s efforts to release unprecedented reserves, these measures did little to calm market fears of prolonged disruptions.

Gasoline Holds Near 3-½ Year Peak

US gasoline futures remained above $2.90 per gallon, holding a two-day rally near their highest level since July 2022, as investors brace for further turmoil with Iran vowing to keep the critical Strait of Hormuz closed. Iran’s new Supreme Leader Mojtaba Khamenei warned it could open other fronts if US and Israeli attacks continue, while reports indicate Tehran has begun laying mines in the passage, further raising shipping risks. At the same time, President Donald Trump posted that preventing Iran from developing nuclear weapons and limiting its regional threats is a higher priority than concerns about oil prices. Since the conflict began, tankers have been unable to load from the Gulf, disrupting about 20% of global oil trade. The IEA called it the largest disruption to global oil output on record, while their recent efforts to curb energy costs have done little to slow the energy rally. For the week, gasoline is heading for a second consecutive gain.

Gasoline Surges After Khamenei Declaration

US gasoline futures surged over 5% to trade above $2.93 per gallon, the highest since July 2022 as markets reacted to the worsening maritime crisis in the Persian Gulf. Mojtaba Khamenei, the new Iranian supreme leader, declared that the Strait of Hormuz should stay closed to pressure international rivals. While the International Energy Agency launched its largest-ever coordinated release of 400 million barrels from emergency reserves, the gesture has failed to calm traders who fear the 20% loss of global trade cannot be offset by stockpiles alone. Fresh projectile strikes on oil tankers in Iraqi waters and near Jebel Ali have further discouraged commercial traffic and reinforced bets that a near-term resolution is unlikely. Gulf producers have already slashed output as storage capacity reaches its limit while U.S. officials maintain they are not yet prepared to escort tankers through the conflict zone.

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Gasoline Price History

18.02.2026 - GASOLINE Commodity was up 5.3%

• Gasoline prices surged to over $3 per gallon, driven by heightened spring demand and elevated crude oil prices due to ongoing conflicts in certain regions which disrupted oil and LNG flows.
• The closure of a vital global energy transportation route has further exacerbated supply concerns, leading to a broad surge in commodities and pushing pump prices to multi-year highs.
• Efforts to ease supply strains, such as the release of emergency reserves by certain entities, have done little to alleviate market fears of prolonged disruptions. Traders are closely monitoring the situation in specific regions for potential impacts on global supply chains.
• Geopolitical tensions and the threat of continued disruptions in key oil-producing regions are likely to keep Gasoline prices elevated in the near term, posing challenges for consumers and policymakers dealing with various pressures and uncertainties.

10.02.2026 - GASOLINE Commodity was down 13.3%

• Gasoline futures dropped below $2.70 per gallon today.
• President Trump's statements about easing Middle East conflict concerns, such as potentially relaxing oil-related sanctions and deploying naval escorts in the Strait of Hormuz, influenced the market.
• G7 finance ministers signaling readiness to release oil from strategic reserves added pressure on gasoline prices.
• Despite recent drawdowns in US gasoline stocks and disruptions in global energy traffic, the market sentiment shifted due to the perceived easing of tensions and potential measures to stabilize energy markets.

03.02.2026 - GASOLINE Commodity was up 5.1%

• Gasoline prices surged to an 18-month high of 2.39 USD/Gal, marking a substantial increase over the past month and year. This bullish trend can be attributed to various factors:
• The joint US and Israeli strikes on Iran, resulting in the death of Ayatollah Ali Khamenei, raised concerns about potential disruptions in energy supply, leading to a quick rise in Gasoline prices.
• The threat of insurers canceling coverage and increasing premiums due to the rerouting of vessels away from the vital chokepoint of the Strait of Hormuz added to market uncertainty, further boosting Gasoline prices.
• Despite a slight dip in Gasoline futures from a recent high, ongoing nuclear talks between the US and Iran, coupled with geopolitical tensions and supply chain disruptions, continue to keep the market on edge, contributing to the overall bullish sentiment in the Gasoline market.

09.00.2026 - GASOLINE Commodity was up 5.0%

• Gasoline prices experienced a strong bullish movement today, reaching a 4-week high of $1.78 USD/Gal.
• The increase in Gasoline prices can be attributed to the broader weakness in the oil market, as supply surplus continues to outweigh geopolitical risks.
• Factors such as rising output and inventories, decisions related to maintaining output levels, and higher-than-expected US gasoline stocks have put pressure on the energy market, contributing to the recent price surge.
• Despite geopolitical tensions, the impact on energy supply remains limited, with Venezuela accounting for less than 1% of the world's oil output and its oil infrastructure remaining unharmed by external actions.

31.09.2025 - GASOLINE Commodity was down 4.9%

• Gasoline prices dropped to $1.97 per gallon despite recent gains.
• A 5.9 million barrel decrease in domestic gasoline stocks, exceeding expectations, briefly lifted prices.
• Oversupply worries in the petrol-commodity market, as well as supply constraints from Asian refineries due to US sanctions on Russian oil companies, contributed to the downward market trend.
• Despite a recent rally, the surplus of crude oil, production increases by OPEC+ members, and rising output from non-OPEC nations are likely to pressure gasoline prices in the coming days.

06.02.2026 - GASOLINE Commodity was up 5.1%

• Gasoline prices surged to an 18-month high of $2.39 per gallon, marking a substantial increase over the past few weeks and months.
• The bullish momentum was primarily fueled by escalating tensions in the Middle East, particularly the US-Israeli strikes on Iran and the subsequent disruptions in energy supply routes.
• President Donald Trump's announcement of potential measures to ease energy costs, including releasing crude from US reserves and relaxing fuel-blending requirements, briefly halted Gasoline's rally, but the overall market sentiment remained bullish.
• The ongoing conflict between the US, Israel, and Iran, coupled with unexpected supply disruptions and geopolitical uncertainties, contributed to the sharp increase in Gasoline prices, highlighting the commodity's sensitivity to geopolitical events and global energy dynamics.

27.01.2026 - GASOLINE Commodity was up 14.6%

• Gasoline futures decreased from a five-month high, with market participants observing updates on US-Iran nuclear discussions, which prompted caution due to the strategic significance of the Strait of Hormuz.
• Ukrainian attacks on Russian refineries resulted in Russian firms shifting towards exporting crude instead of gasoline, affecting the global gasoline supply.
• An unexpected 3.2 million barrel decline in national gasoline reserves, surpassing market projections, also played a role in pushing down gasoline futures.

14.00.2026 - GASOLINE Commodity was down 2.9%

• Gasoline futures rebounded from a near five-year low as markets reassessed the potential impact of higher exports of Venezuelan crude oil on US refinery capacity. The hesitance of energy executives to bid for Venezuelan oil contracts due to political uncertainty and the sustainability concerns under the current regime contributed to the market's downward pressure.
• US President Trump's announcement of securing future shipments of Venezuelan crude oil further added to the bearish sentiment, as it signaled increased supply of heavy sour crude oil into the US, impacting Gasoline prices negatively.
• Chevron's move to hire 11 tankers to boost fuel exports to the US highlighted the ongoing efforts to enhance capacity, potentially leading to an oversupply situation and consequently driving Gasoline prices lower.
• The recent bearish movement in Gasoline prices could also be attributed to the broader market sentiment, where concerns over global economic growth and energy demand outlooks continue to weigh on commodity prices, including Gasoline.

12.02.2026 - GASOLINE Commodity was up 8.5%

• Gasoline prices surged over 4% to around $2.9 per gallon, nearing a four-year high, driven by escalating tensions in the Middle East, particularly involving Iran.
• The conflict in the region, with Iran demanding guarantees from the US and Israel to consider a ceasefire, has led to major disruptions in global oil supplies, overshadowing efforts to ease crude and fuel prices.
• President Trump's statements about the war potentially nearing its end and efforts to stabilize energy markets have created uncertainty among investors, contributing to the volatile movement in gasoline futures.
• Despite occasional pullbacks, gasoline prices remain on a strong upward trajectory, supported by ongoing geopolitical tensions and supply concerns, making it a closely watched commodity in the current market environment.

12.02.2026 - GASOLINE Commodity was up 5.3%

• Gasoline futures surged over 5% to trade above $2.93 per gallon, reaching the highest levels since July 2022, driven by escalating tensions in the Persian Gulf region.
• The market reacted to the worsening maritime crisis in the Strait of Hormuz following declarations from the new Iranian supreme leader, Mojtaba Khamenei, leading to concerns about disruptions in global oil supplies.
• Despite efforts by the International Energy Agency to release emergency reserves, including the largest-ever coordinated release of 400 million barrels, traders remain apprehensive about the impact of the conflict on trade and fuel prices.
• Fresh projectile strikes on oil tankers and the reluctance of the US to guarantee a ceasefire with Iran have further fueled uncertainty, reinforcing the bullish sentiment in Gasoline prices as investors brace for prolonged supply disruptions.

09.02.2026 - GASOLINE Commodity was down 13.5%

• Gasoline prices decreased by nearly 5% to below $2.64 per gallon due to a sharp reversal in crude oil prices and signals from the G7 suggesting a bearish market sentiment.
• President Donald Trump's comments on the military campaign reaching its conclusion and the reopening of maritime traffic through crucial lanes played a role in the decrease in gasoline prices.
• The decision by G7 finance ministers to utilize strategic petroleum reserves to stabilize global fuel markets contributed to the downward pressure on gasoline benchmarks.
• Despite initial positive momentum driven by Middle East tensions impacting global energy flow, a sudden downturn in the global energy sector and reduced concerns about supply disruptions led to a rapid decline in gasoline prices.

11.02.2026 - GASOLINE Commodity was up 5.8%

• Gasoline prices surged by 5.01% to $2.7725 per gallon, driven by ongoing geopolitical tensions in the Middle East and concerns about supply disruptions.
• Statements about potentially easing tensions with Iran and deploying naval escorts in the Strait of Hormuz led to a brief pullback in gasoline futures, but the market quickly rebounded.
• The market remains volatile as investors closely monitor developments in the Middle East conflict and the potential impact on oil supply chains, keeping gasoline prices on a rollercoaster ride.