US gasoline futures bottomed around the $2 per gallon level, with front-month contracts stuck in a tight range for nearly six weeks after their demand-driven multi-year rally that began in April last year. The shift in market sentiment came amid lingering concerns about rising coronavirus infections in countries from India to Japan, which clouded the outlook on fuel demand recovery.
Historically, Gasoline reached an all time high of 3.63 in July of 2008. Gasoline - data, forecasts, historical chart - was last updated on April of 2021.
Gasoline is expected to trade at 1.88 USD/GAL by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 1.58 in 12 months time.