Gasoline Prices

Gasoline prices averaged USD 2.15 per gallon in June, up 2.4% from May. On 30 June, the commodity traded at USD 2.07 per gallon, up 2.5% from 30 May.

The price of gasoline was raised by higher costs of crude, its main ingredient. This outweighed gasoline’s price premium over crude falling to a four-month low as well as gasoline demand per day dropping 1.6% year on year in the four weeks up to 20 June. Meanwhile, the output of U.S. refiners rose to 95% in the week to 22 June.