Gasoline Prices

Gasoline prices averaged USD 3.23 per gallon in October, down 3.6% from September. On 30 October, the commodity traded at USD 3.16 per gallon, down 3.1% from 30 September.

In October, gasoline’s price premium vs crude fell further from the series high notched in July as the U.S. summer driving season ended. Moreover, supply was less tight than expected: U.S. gasoline inventories increased 4.8 million barrels in the four weeks to 23 October, against market forecasts of a 4.0 million barrel draw.