Gasoline Prices

Gasoline prices averaged USD 2.08 per gallon in April, down 4.3% from March. On 30 April, the commodity traded at USD 2.02 per gallon, down 11.8% from 31 March.

The decline was because crude costs fell. The crack spread—gasoline’s price premium over crude—hit an 11-month high in April. As in the last month, the rise in the spread likely reflected new U.S. tariffs that kicked in on 12 March, including a 10% and 25% charge on Canadian and Mexican energy imports, respectively.