Gasoline Prices

Gasoline prices averaged USD 2.15 per gallon in July, up 0.1% from June. On 31 July, the commodity traded at USD 2.17 per gallon, up 4.8% from 30 June.

The price of gasoline stabilized as the cost of its main ingredient, crude oil, also steadied. Looking at available data, demand was broadly flat year on year in the week ending 25 July. Meanwhile, the output of U.S. refiners as a share of capacity in July topped 95% for only the seventh time since the end of the pandemic.