Gasoline ($GASOLINE) Commodity Forecast: Up 5.7% Today

What is Gasoline?

Gasoline is a key commodity in the energy market, essential for powering vehicles and machinery. Today, Gasoline experienced a strong bullish movement, reaching near 4-year highs due to ongoing supply disruptions in the Middle East.

Why is Gasoline going up?

GASOLINE commodity is up 5.7% on Apr 29, 2026 16:26

• Gasoline futures surged to nearly 4-year highs above $3.70 per gallon as Middle East supply disruptions continued to tighten feedstock supply for refiners, leading to concerns over supply shortages.
• The US-Iran conflict and the blockade in the Strait of Hormuz have disrupted shipping activity, halting the transit of oil and product tankers, exacerbating supply risks and driving up prices.
• Reports of falling gasoline inventories in the US by significant amounts, such as 6.1 million barrels and 8.47 million barrels in a week, have added to the bullish sentiment, indicating a persistent decline in stocks amidst the supply disruptions.
• The escalating tensions and failed peace negotiations in the Middle East have further fueled concerns over crude availability for refiners, pushing Gasoline prices higher as traders monitor the situation closely for any signs of resolution.

GASOLINE Price Chart

GASOLINE Technical Analysis

GASOLINE News

Gasoline Rises to 4-Year High

Gasoline futures for delivery in New York Harbor climbed above $3.70 per gallon in late April, the highest since June 2022, as ongoing Middle East supply disruptions continued to tighten feedstock supply for refiners. The US and Iran showed no signs of caving to each others' agreement terms, extending the naval blockades both sides that prevent the transit of oil and product tankers through the Strait of Hormuz. Normal shipping activity through the chokepoint has been halted since the start of March, disrupting 20 million barrels per day of oil and refined products for major importers. On top of that, the jet fuel and diesel shortages in Europe and Asia drove major energy producers to prioritize their refining capacity in the distillates instead of motor gasoline, exacerbating the supply risks. Consequently, stocks of gasoline in the US fell by 6.1 million barrels o the week ending April 24th, above expectations of a 2.1 million barrel draw to mark the 11th straight decline.

Gasoline Rises to Nearly 4-Year High

Gasoline futures for delivery in New York Harbor climbed above $3.60 per gallon in late April, the highest since July 2022, as ongoing Middle East supply disruptions continued to tighten feedstock supply for refiners. Reports showed that President Trump has ordered preparations for a prolonged blockade of Iran, adding to concerns over deeper supply disruptions in the Strait of Hormuz. While a ceasefire has been in place since early April, it has remained fragile amid recurring tensions, with traders monitoring any signs of negotiation developments. Shipping activity through the Strait has effectively stalled, with vessel movements falling to near zero and severely disrupting a key artery that typically handles around 20 million barrels per day of oil and refined products. Against this backdrop, API figures showed gasoline inventories fell by 8.47 million barrels last week. For the month, gasoline is heading for its fifth consecutive monthly advance.

Gasoline Hits Almost 4-Year High

Gasoline futures for delivery in New York Harbor rose toward $4.50 per gallon in late April, hitting their highest level since July 2022, as ongoing Middle East supply disruptions reduced crude availability for refiners. Although a ceasefire has mostly been held since early April, attempts to restart peace negotiations in the Iran conflict have failed. A US-led blockade continues to stop and redirect sanctioned vessels in the Arabian Sea, while Iran has also tightened its control of the Strait of Hormuz, with recent reports of gunfire involving commercial ships. As a result, traffic through the passageway has fallen to near zero, disrupting a key corridor that normally moves about 20 million barrels per day of oil and refined products. The US blockade of Iranian crude has extended supply pressures to Chinese teapot refiners, which had largely avoided disruption until mid-April due to their heavy reliance on Iranian feedstock.

Gasoline is up by 5%

Gasoline increased 5% to 3.3704 USD/Gal

Gasoline Rises to Near 4-Year High

Gasoline futures for delivery on the New York Harbor rose to above $3.3 per gallon in April, the highest in nearly four years, as the prolonged conflict in the Middle East worsened the supply shortage of oil for refiners. Iran struck and then seized multiple commercial vessels near the Strait of Hormuz shortly after US President Trump announced the continuation of the blockade for the chokepoint until a deal is reached. The developments were the latest to align with the likelihood that tanker movement through the Strait will remain halted for the near future, preventing exports from the region that usually supplies 20 million barrels per day of oil and refined product. The US blockade of Iranian crude spread the supply stress to Chinese teapot refiners, which were spared of the conflict until mid-April due to their large reliance on Iranian feedstock. Consistently, gasoline stocks in the US sank by 4.6 million barrels on the week ending April 17th, a 10th straight draw.

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Gasoline Price History

08.03.2026 - GASOLINE Commodity was down 11.5%

• Gasoline futures dropped over 10% to below $3 per gallon, hitting a four-week low. The decline can be attributed to Iran's agreement to temporarily reopen the Strait of Hormuz, easing concerns about potential supply disruptions.
• President Trump's ultimatum for Iran to reopen the waterway or face targeted strikes on infrastructure added uncertainty to the market, impacting gasoline prices negatively.
• The announcement of a ceasefire and upcoming negotiations between the US and Iran likely provided some relief to investors, leading to the bearish movement in gasoline futures as tensions eased in the region.
• The decision by OPEC+ to increase output in May may have also contributed to the downward pressure on gasoline prices, as concerns about supply constraints due to the closed Strait of Hormuz were partially alleviated.

01.03.2026 - GASOLINE Commodity was down 5.5%

• Gasoline prices retreated after reaching a 3-year high, following a brief decline triggered by Iranian President's readiness to end hostilities with Western powers. This shift in rhetoric, coupled with skepticism in the market due to recent tanker incidents and continued US troop movements, led to the bearish movement.
• Despite heading for its strongest monthly gain on record, Gasoline faced downward pressure as markets remained cautious about the ongoing disruptions in critical energy corridors like the Strait of Hormuz and Red Sea. The uncertainty surrounding peace talks and the looming geopolitical risks contributed to the price retreat.
• President Trump's mixed signals on the Iran conflict, from hints of negotiations to ultimatums of infrastructure destruction, added to the market volatility and bearish sentiment. The deployment of additional US forces and the resulting geopolitical risk premium further weighed on Gasoline prices.
• The historic surge in Gasoline prices over the past month, driven by global supply shocks and seasonal demand, faced a setback as investors reacted to the evolving geopolitical landscape and the delicate balance between hopes for peace and fears of escalating tensions.

09.03.2026 - GASOLINE Commodity was up 5.2%

• Gasoline futures surged as the market reacted to Israeli strikes on Lebanon, which led to Iran halting the passage of oil tankers through the Strait of Hormuz. This escalation in tensions and potential disruptions in oil supply contributed to the bullish movement in Gasoline prices.
• The previous day, Gasoline futures dropped significantly following Iran's agreement to temporarily reopen the Strait of Hormuz as part of a ceasefire with the US and Israel. This decision alleviated concerns about oil supply disruptions, leading to a sharp decline in Gasoline prices.
• The fluctuating Gasoline prices reflect the market's sensitivity to geopolitical developments in the Middle East, particularly regarding the vital waterway of the Strait of Hormuz. Traders are closely monitoring ceasefire negotiations and potential disruptions in energy supplies, which are driving the volatility in Gasoline futures.
• Despite the temporary relief provided by the ceasefire agreements, uncertainties persist regarding the long-term stability of oil transit through the Strait of Hormuz. Any further escalations or disruptions in the region could continue to impact Gasoline prices in the coming days.

22.03.2026 - GASOLINE Commodity was up 5.0%

• Gasoline prices surged over 4% today, exceeding $3.10 per barrel.
• The increase in prices was attributed to heightened tensions in the Middle East, including actions involving US military and the persisting closure of the Strait of Hormuz.
• Market sentiment was also impacted by uncertainties surrounding US-Iran negotiations and potential disruptions to energy supplies from the Persian Gulf region.
• Despite some price fluctuations, the overall bullish trend in gasoline prices reflects ongoing geopolitical risks and supply uncertainties, leading to cautious investor sentiment.

22.03.2026 - GASOLINE Commodity was up 5.6%

• Gasoline prices have risen to nearly $3.3 per gallon, the highest in almost four years, as the conflict in the Middle East intensified, causing supply shortages and disruptions in the oil market.
• The ongoing blockade in the Strait of Hormuz, along with geopolitical tensions between the US and Iran, has raised concerns about oil and refined product supplies, leading to a significant increase in gasoline prices.
• The continuous drawdown in gasoline stocks in the US, combined with uncertainties surrounding US-Iran negotiations and the potential for a prolonged conflict, have contributed to the bullish momentum in Gasoline futures.
• Despite occasional price slips due to market assessments of potential talks between the US and Iran, the overall trend remains bullish amidst the risk of a deeper global energy crisis, keeping gasoline prices elevated.

22.03.2026 - GASOLINE Commodity was up 7.3%

• Prices of Gasoline increased by 5% to almost a four-year peak, attributed to rising tensions in the Middle East, particularly related to the conflict between Iran and the US. This has resulted in supply shortages and disruptions in the oil market.
• The ongoing blockage in the critical Strait of Hormuz, a key point for oil shipment, has worsened the supply strain, leading to a further spike in Gasoline prices.
• Despite some fluctuations in Gasoline futures, the overall trend is bullish as the energy markets continue to be affected by geopolitical uncertainties, potentially leading to additional price hikes in the near term.

17.03.2026 - GASOLINE Commodity was down 5.2%

• Gasoline futures fell amid growing possibilities of peace talks between the US and Iran, despite a larger-than-expected decline in inventories, leading to a downward shift in the market.
• Speculations about peace negotiations between the US and Iran, combined with the US implementing a naval blockade in the Strait of Hormuz, were key contributors to the drop in Gasoline prices.
• Uncertainties surrounding the US-Iran conflict, potential supply disruptions, and their effects on global oil demand all played a role in pushing Gasoline prices lower, resulting in the observed downward trend in the market.

17.03.2026 - GASOLINE Commodity was down 5.2%

• Gasoline prices plunged to a 5-week low due to hopes of increased supply from the Persian Gulf region following an announcement regarding vessels navigating the Strait of Hormuz. This news eased concerns over potential supply disruptions, leading to a drop in gasoline futures.
• Despite a larger-than-expected draw in inventories and an increase in gasoline demand, the prospects of further peace negotiations between two countries outweighed these positive factors, contributing to the decline in gasoline futures.
• The anticipation of renewed talks between the two nations, along with the potential for a deal benefiting both sides, led to a slip in gasoline prices. The uncertainty surrounding the ongoing geopolitical situation, including naval activities and output disruptions, added to the market's volatility.
• The market sentiment for gasoline was influenced by shifting geopolitical dynamics, peace negotiation prospects, and supply concerns in key regions, highlighting the interconnectedness of global events on commodity prices.

07.03.2026 - GASOLINE Commodity was down 9.2%

• Gasoline futures edged lower due to President Trump's ultimatum to Iran regarding the reopening of the Strait of Hormuz, which overshadowed ceasefire efforts, causing uncertainty and downward pressure on prices.
• Market sentiments were impacted negatively by Trump's warnings of potential strikes on Iran's infrastructure, resulting in a risk-off sentiment that affected Gasoline prices.
• Despite OPEC+ agreeing to increase output, concerns about supply disruptions from the closed Strait and damaged infrastructure limited optimism for increased supply reaching global markets, contributing to the bearish movement in Gasoline prices.

29.03.2026 - GASOLINE Commodity was up 5.1%

• Gasoline futures climbed to nearly 4-year highs surpassing $3.60 per gallon as ongoing supply disruptions in the Middle East tightened feedstock supply for refiners.
• Concerns over potential longer-term blockades of Iran following President Trump's directives and fragile ceasefires in the region contributed to worries about further supply disruptions, thus pushing Gasoline prices up.
• Instances of commercial vessels being seized near the Strait of Hormuz and the halt in tanker movements in the area worsened supply shortages, driving Gasoline prices even higher.
• The continuous monthly increase in Gasoline prices, alongside notable inventory declines and disturbances in crucial oil transit routes, all played a part in the bullish market movement witnessed today.

29.03.2026 - GASOLINE Commodity was up 5.7%

• Gasoline futures surged to nearly 4-year highs above $3.70 per gallon as Middle East supply disruptions continued to tighten feedstock supply for refiners, leading to concerns over supply shortages.
• The US-Iran conflict and the blockade in the Strait of Hormuz have disrupted shipping activity, halting the transit of oil and product tankers, exacerbating supply risks and driving up prices.
• Reports of falling gasoline inventories in the US by significant amounts, such as 6.1 million barrels and 8.47 million barrels in a week, have added to the bullish sentiment, indicating a persistent decline in stocks amidst the supply disruptions.
• The escalating tensions and failed peace negotiations in the Middle East have further fueled concerns over crude availability for refiners, pushing Gasoline prices higher as traders monitor the situation closely for any signs of resolution.

27.02.2026 - GASOLINE Commodity was up 5.1%

• Gasoline prices surged as a key political decision was made, easing short-term pressure and maintaining a notable geopolitical premium due to tensions in the Middle East.
• Fluctuations in gasoline futures were observed due to conflicting signals from two countries, alongside supply disruptions in a crucial region and seasonal demand patterns.
• A potential ceasefire in the Middle East caused a brief decline in gasoline prices, exposing the market's sensitivity to geopolitical events and the anticipation of reduced disruptions to the global oil supply.
• Despite a temporary decrease in gasoline futures after a significant announcement, prices remain high due to seasonal demand, disruptions in the supply chain, and the transition to more costly summer fuel formulations.