Gasoline ($GASOLINE) Commodity Forecast: Down 5.0% Today

What is Gasoline?

Gasoline is a key commodity used for fuel in vehicles, with its price closely tied to crude oil prices. Today, gasoline experienced a significant bearish movement in the market.

Why is Gasoline going down?

GASOLINE commodity is down 5.0% on Feb 4, 2025 13:44

• Gasoline futures dropped due to escalating trade tensions between the US and China, leading to retaliatory tariffs on various US exports, including crude oil.
• The weaker-than-expected US economic growth and speculation of Fed rate cuts in March contributed to a rebound in gasoline futures, as a weaker dollar made commodities more appealing.
• President Trump's tariff threats on Canadian and Mexican imports, along with a surge in gasoline inventories, added pressure on oil-related commodities, impacting the bearish movement in gasoline prices today.

GASOLINE Price Chart

GASOLINE Technical Analysis

GASOLINE News

US Gasoline Futures Follow Oil Lower

US gasoline futures dropped toward $2.05 per gallon, tracking declines in crude oil prices as trade tensions escalated. The US imposed tariffs on China, prompting Beijing to retaliate with levies on US coal, LNG, crude oil, farm equipment, and certain vehicles. Meanwhile, President Trump delayed steep tariffs on Canada and Mexico for 30 days after both nations agreed to tighten border controls in response to US demands on immigration and drug smuggling. This pause affects a planned 25% tariff on their goods and a 10% tariff on Canadian energy imports. Oil markets also reacted to OPEC+ maintaining its plan to gradually increase output from April. Investors now await US oil inventory data for the week ending January 31, with analysts expecting crude stockpiles to have risen while gasoline and distillate inventories likely declined.

Gasoline Futures Rebound Slightly

US gasoline futures edged up to $2.05 per gallon after hitting a three-week low, as weaker-than-expected US economic growth pressured the dollar and fueled speculation over Fed rate cuts in March. A weaker dollar made commodities priced in it more attractive. Meanwhile, investors focused on tariff threats from former President Trump, who reaffirmed plans for a 25% levy on Canadian and Mexican imports unless they curb fentanyl trafficking. Gasoline inventories surged by 2.96 million barrels last week, exceeding forecasts of a 1.5 million barrel build. Oil-related commodities have been under pressure as Trump urged OPEC to lower prices.

Trending Today

Sonic (prev. FTM) ($S) Crypto Forecast: Down 5.1% Today

Movement ($MOVE) Crypto Forecast: Down 5.3% Today

Aave ($AAVE) Crypto Forecast: Down 5.3% Today

CleanSpark Inc ($CLSK) Stock Forecast: Down 5.2% Today

Tenet Healthcare Corporation ($THC) Stock Forecast: Down 6.5% Today

Humana Inc. ($HUM) Stock Forecast: Up 5.5% Today

Grab Holdings Limited ($GRAB) Stock Forecast: Up 5.7% Today

Ethena ($ENA) Crypto Forecast: Down 9.0% Today

Pepe ($PEPE) Crypto Forecast: Down 5.7% Today

Assurant Inc. ($AIZ) Stock Forecast: Down 1.2% Today

Gasoline Price History

30.07.2024 - GASOLINE Commodity was down 5.0%

• Gasoline futures experienced a bearish movement due to weaker global demand and economic uncertainties, including slowdowns in key markets like China and reduced diesel demand in Europe.
• The rebound in gasoline prices was driven by rising oil prices as a dovish US Fed pressured the dollar, boosting dollar-priced energy commodities.
• Signs of weakening demand from major economies and potential delays in OPEC+ output cuts contributed to speculation that supported energy prices.
• The fluctuation in gasoline prices highlights the volatility in the energy market, where supply and demand dynamics, geopolitical factors, and economic indicators play a significant role in price movements.

04.08.2024 - GASOLINE Commodity was down 5.0%

• Gasoline prices have been on a downward trend, hitting multi-month lows due to a combination of factors:
• Weaker global demand and economic uncertainties, particularly slowdowns in key markets like China and reduced diesel demand in Europe, are contributing to the downward pressure on gasoline prices.
• OPEC's decision to maintain gradual output cuts next month, despite signs of lower fuel demand, is further impacting prices negatively.
• Concerns over an energy oversupply due to subdued domestic demand in China, as highlighted by major Chinese oil producers and refiners cautioning about the situation, are also weighing on gasoline prices.
• The anticipation of a decline in gasoline inventories, as indicated by consecutive weeks of decreasing stocks, is not enough to offset the broader bearish sentiment in the market.

01.09.2024 - GASOLINE Commodity was up 1.7%

• Gasoline prices are under pressure due to ongoing worries about sluggish demand, especially impacted by economic struggles in China that are dampening fuel consumption.
• Anticipated increase in crude oil supply, potentially through Saudi Arabia easing production cuts and Libya settling export disputes, is further depressing gasoline prices.
• The market is experiencing a decline in gasoline futures as a result of subdued demand and potential oversupply, despite attempts to stimulate consumption and resolve supply challenges.

08.09.2024 - GASOLINE Commodity was down 5.3%

• Gasoline futures dropped to $2 per gallon today, a significant shift from a 6-week high, despite the recent bullish trend.
• The unexpected increase in gasoline inventories by 1.119 million barrels led to this decline, contrary to market expectations of a decrease.
• Geopolitical tensions in the Middle East, especially between Iran and Israel, have raised concerns about potential disruptions in oil supply chains, causing oil prices to surge and exerting pressure on gasoline futures.
• President Biden's lack of direct opposition to a potential Israeli attack on Iran's oil facilities has added a risk premium to oil futures, contributing to the downward movement in gasoline prices.

03.09.2024 - GASOLINE Commodity was up 5.2%

• The Middle East's geopolitical tensions, specifically the situation between Iran and Israel, amplified concerns about potential disruptions in the oil market, prompting increases in oil prices and subsequently lifting gasoline futures.
• Positive US economic data, which included encouraging labor market statistics and a surge in the ISM Services PMI, suggested a strong demand for fuel, further reinforcing the market's bullish trend in gasoline prices.
• Despite an unforeseen uptick in gasoline stockpiles, the overall market sentiment leaned more heavily on geopolitical aspects and economic indicators, overshadowing the impact of the inventory rise on gasoline futures.
• The convergence of heightened geopolitical uncertainties and positive economic signals resulted in the notable increase in gasoline prices, underlining the complex relationship between global occurrences and commodity markets.

03.09.2024 - GASOLINE Commodity was up 5.2%

• Gasoline prices surged to a 4-week high of $2 per gallon as oil prices spiked due to escalating tensions in the Middle East. The launch of ballistic missiles by Iran at Israel raised concerns about potential disruptions in oil supply from the region, leading to a rally in oil prices and subsequently pushing up gasoline futures.
• Despite the recent increase, Gasoline remains near February-2021 lows as worries persist over weak demand exacerbated by China's economic struggles and the possibility of increased crude oil supply from Saudi Arabia and Libya. These factors are putting downward pressure on Gasoline prices despite the short-term spike driven by geopolitical tensions in the Middle East.
• The fluctuations in Gasoline prices highlight the intricate interplay between geopolitical events, global supply dynamics, and demand concerns, underscoring the volatility and sensitivity of energy markets to external factors beyond just traditional supply and demand fundamentals.

04.01.2025 - GASOLINE Commodity was down 5.0%

• Gasoline futures dropped due to escalating trade tensions between the US and China, leading to retaliatory tariffs on various US exports, including crude oil.
• The weaker-than-expected US economic growth and speculation of Fed rate cuts in March contributed to a rebound in gasoline futures, as a weaker dollar made commodities more appealing.
• President Trump's tariff threats on Canadian and Mexican imports, along with a surge in gasoline inventories, added pressure on oil-related commodities, impacting the bearish movement in gasoline prices today.

03.01.2025 - GASOLINE Commodity was down 0.5%

• Gasoline futures experienced a bearish movement despite a slight rebound today.
• The weaker-than-expected US economic growth and speculation over Fed rate cuts in March put pressure on the dollar, making commodities priced in it more attractive, including gasoline.
• The surge in gasoline inventories, exceeding forecasts, added to the bearish sentiment as oversupply concerns weighed on prices.
• Geopolitical tensions, such as tariff threats and calls for lower oil prices by a notable figure, also contributed to the downward pressure on gasoline prices.

30.10.2023 - GASOLINE Commodity was down 5.1%

• Gasoline experienced a bearish movement today, with prices declining.
• The decline can be attributed to factors such as declining demand and steady supply, as well as the outcome of the OPEC+ meeting.
• Gasoline stocks in the United States saw a significant increase, indicating higher supply levels.
• The market also reacted to the news of a 1% decline in US gasoline consumption forecasted for 2024, which further added to the bearish sentiment.

15.01.2024 - GASOLINE Commodity was down 5.1%

• The bearish movement in gasoline today can be attributed to the following factors:
• 1. Drawback in demand and cheaper crude oil prices: The increase in crude oil inventories in the US, along with a drop in gasoline product supplied, tempered the demand outlook for gasoline. Cheaper prices for crude oil inputs also contributed to the bearish movement.
• 2. Geopolitical tensions in the Middle East: Ongoing conflicts in the Middle East have created market instability. Concerns over vessel safety in the Red Sea region due to attacks by Yemen's Houthis have also impacted the market.
• 3. Ukrainian attacks on Russian refineries: The export capacity for Russia was hampered by the attacks on its refineries by Ukraine, adding to the overall woes in the market.
• 4. Market correction after a recent high: Gasoline had recently reached a peak in its price, and the bearish movement could be seen as a correction after the price increase.
• Overall, the bearish movement in gasoline today can be attributed to a combination of factors including demand and supply dynamics, geopolitical tensions, and market corrections after recent highs.

03.05.2024 - GASOLINE Commodity was down 2.1%

• Gasoline futures dropped to a 3-month low due to evidence of slowing demand and ample availability, with US inventories increasing by over 2 million barrels, contrary to market expectations.
• The decrease in product supplied, a key indicator of consumer demand, by 166 thousand barrels right before Memorial Day weekend also contributed to the bearish movement.
• Investors are closely monitoring the upcoming OPEC+ meeting where the cartel is expected to extend voluntary output cuts. The struggle of key oil-exporting nations to comply with production cuts raises skepticism over their ability to react to slowing demand, adding further pressure on gasoline prices.

29.01.2024 - GASOLINE Commodity was up 8.3%

• Gasoline futures experienced a strong bullish movement due to a combination of factors:
• Recent evidence of low supply and steady demand, with gasoline demand rising and stocks decreasing, leading to a bullish sentiment in the market.
• The decision by a government to ban gasoline exports for six months to address domestic demand and refinery maintenance concerns added to the bullish outlook.
• Anticipation of a draw in gasoline inventories for the fourth consecutive period, coupled with geopolitical tensions affecting WTI crude futures, further supported the bullish trend.
• Despite signs of slowing demand and stable supply in previous weeks, the current market sentiment shifted positively, driven by the latest data and geopolitical developments.