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Barchart
Barchart
Andrew Hecht

Will Gasoline’s Price Fall Going into the Off-Season?

Oil UGA OPEC SPR crude oil Nymex Russia Barchart China Petroleum

In my Q2 energy report on Barchart, I highlighted the 5.08% decline in RBOB gasoline futures in Q2 and the 2.69% gain in the energy product since the 2022 closing price. Nearby NYMEX gasoline futures settled at $2.54490 per gallon wholesale on June 30 and moved higher in July and August. Historically, gasoline prices have typically peaked during summer and declined in fall as the offseason for driving approaches. However, 2023 is no ordinary year for energy commodities as the war in Ukraine continues to rage, and Russia has significant influence with OPEC, the worldwide oil cartel. 

Gasoline futures stop short of $3 per gallon wholesale

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