Gasoline prices averaged USD 3.74 per gallon in July. This 15-month high was 14.2% higher than August’s price and down 3.4% year on year. On 29 September, the fuel traded at USD 3.93 per gallon, up 15.3% month on month.
The spot price rose in line with that of crude, gasoline’s main ingredient. A spike in diesel prices due to seasonal consumption by farmers for harvesting and by consumers for heating added further momentum. More bearishly, inventories moved to 1.0% less than their five-year seasonal average in the week ending 29 September, compared to 5.0% below in mid-August.
RBOB Gasoline (prices in US$/gal, aop)
Q1 2021 | Q2 2021 | Q3 2021 | Q4 2021 | Q1 2022 | Q2 2022 | Q3 2022 | Q4 2022 | |
---|---|---|---|---|---|---|---|---|
RBOB Gasoline | - | - | - | - | 2.81 | 3.68 | 2.89 | 2.48 |