Prices on this page last updated 4 October 2026, using RBOB wholesale futures data from OilPrice.com.
The gasoline price in the United States shows RBOB futures, the wholesale benchmark, trading at $3.312 per gallon at New York Harbor, up 3.02% over the past month but down 2.65% in the latest session. RBOB has kept rising alongside the broader crude complex rather than diverging from it as it did earlier in the summer, though its monthly gain is smaller than Brent’s 6.2%.
Current Gasoline Price
| Benchmark | Price | Unit | Change | As of |
|---|---|---|---|---|
| RBOB Futures (NY Harbor) | $3.312 | $/gallon | +3.02% month, -2.65% day | 4 October 2026 |
US gasoline price data sourced from OilPrice.com (RBOB futures, NY Harbor). The monthly change compares with the 6 September 2026 update ($3.215).
Gasoline Price History
The gasoline price tracked crude oil sharply higher from March 2026 as Hormuz supply disruptions transmitted through the refining chain, eased through June and into early August even as crude oil itself was climbing back, and caught back up with the wider crude complex in early September. It has since extended those gains, up 3.02% over the month to $3.312, before slipping 2.65% in the latest session.
What Is Driving Gasoline Prices
The primary driver of the gasoline price is crude oil cost. RBOB rose 3.02% this month, a smaller gain than Brent’s 6.2% but against a flat WTI (-0.40%) and a slightly lower heating oil benchmark (-0.86%), so gasoline has broadly kept pace with crude rather than diverging, with the continued Strait of Hormuz standoff and Russian export freight pressure still underpinning the wider complex.
According to the IEA Oil Market Report, global gasoline demand remains robust despite elevated prices, particularly in emerging markets where vehicle ownership continues to expand.
Gasoline Price Storage Economics
Gasoline is stored in above-ground storage tanks at refineries, distribution terminals, and bulk fuel depots, typically in floating roof tanks designed to minimise evaporative losses from the volatile product. Unlike crude oil, where storage economics are primarily driven by the futures forward curve, gasoline storage demand is shaped by seasonal refinery turnaround schedules, regional supply imbalances, and the wholesale-to-retail margin.
On a simple RBOB-to-crude basis, the gasoline margin is about $36.85 per barrel over Brent, narrower than early September’s $38.75, but $47.99 over WTI, wider than $43.55. The difference between the two reflects the widening Brent-WTI gap rather than a gasoline-specific move. This continues to support active inventory positioning by fuel distributors and oil storage terminal operators.
Terminals in the New York Harbor region, which serves as the RBOB delivery point, remain particularly active during periods of regional supply tightness.
For tank terminal operators handling gasoline and refined products, the summer driving season, June through August in the Northern Hemisphere, is the peak demand period for gasoline storage capacity. Operators with coastal terminals in major consumption markets capture the highest utilisation rates during this window, as regional refinery outages and import timing mismatches create short-term storage demand spikes that spot lease markets price at a premium.
Checking Retail and Regional Gasoline Prices
This page tracks the US wholesale RBOB benchmark, updated monthly against a live source. Retail gasoline prices (US national average, UK, EU, and global comparisons) and regional US wholesale benchmarks (Gulf Coast, Los Angeles) move on a separate cycle influenced by local taxes, distribution costs, and regional supply conditions that aren’t captured in the wholesale futures price. For current US retail figures, check the EIA’s Weekly Retail Gasoline and Diesel Prices report directly.
Gasoline Price in Currency
| Currency | Price per Litre | Price per Gallon | Exchange Rate Used |
|---|---|---|---|
| US Dollar (USD) | $0.8749 | $3.312 | Benchmark |
| Euro (EUR) | €0.777 | €2.942 | 1 USD = 0.88821 EUR |
| British Pound (GBP) | £0.661 | £2.501 | 1 USD = 0.75514 GBP |
| Japanese Yen (JPY) | ¥138.12 | ¥522.83 | 1 USD = 157.86 JPY |
| Chinese Yuan (CNY) | ¥5.87 | ¥22.21 | 1 USD = 6.7063 CNY |
| Indian Rupee (INR) | ₹84.20 | ₹318.72 | 1 USD = 96.232 INR |
Exchange rates are mid-market rates as at 4 October 2026. Wholesale RBOB price converted at 3.78541 litres per US gallon.
Gasoline Price Per Litre, Gallon and Barrel
| Unit | Price (RBOB wholesale) | Notes |
|---|---|---|
| Per US gallon | $3.312 | NYMEX RBOB benchmark unit |
| Per litre | $0.8749 | $3.312 ÷ 3.78541 litres per gallon |
| Per Imperial gallon | $3.978 | $3.312 × 1.201 UK gallon conversion |
| Per barrel (42 US gallons) | $139.10 | $3.312 × 42 |
| Per metric tonne | ~$1,174.17 | Based on gasoline density ~0.745 kg/litre; approx 1,342 litres/tonne |
Gasoline Price Outlook
The EIA Short-Term Energy Outlook had projected US retail gasoline to ease toward $3.80–$4.20 per gallon through Q3 2026. RBOB wholesale’s further 3.02% gain this month keeps open the question of whether that retail easing trajectory still holds, or whether the wholesale rise eventually feeds through to the pump; current retail figures should be checked directly against EIA data to confirm.
The summer driving season, the peak US gasoline demand period, has now ended, and seasonal demand support typically eases through the autumn. For bulk fuel terminal operators, the key signal to watch is whether the RBOB-to-crude margin holds as autumn refinery turnaround season gets under way, particularly given the wide gap between Brent and WTI.
What is the current gasoline price?
Gasoline prices fluctuate daily based on crude oil costs, refinery margins, seasonal demand, and regional supply conditions. This page is updated monthly with the latest US wholesale RBOB and retail benchmark data from the EIA. For real-time wholesale prices, refer to CME Group or NYMEX directly.
What is driving gasoline prices?
Gasoline prices are primarily driven by crude oil feedstock costs, refinery throughput and margins, seasonal driving demand, and geopolitical events affecting global oil supply routes. Supply disruptions at key transit chokepoints such as the Strait of Hormuz transmit rapidly into wholesale gasoline prices through the crude oil-to-refined product refining chain.
Why are gasoline prices so different between the US and Europe?
The United States maintains significantly lower fuel excise taxes than European nations, keeping retail gasoline prices well below EU levels despite similar underlying crude costs. In Europe, taxes account for over 50% of the pump price. The UK and EU average retail gasoline prices of approximately $1.99 and $1.90 per litre compare to a US average of around $1.14 per litre, with the difference almost entirely explained by tax policy rather than supply costs.
How does gasoline price affect tank terminal storage demand?
High gasoline prices with strong wholesale-to-retail margins incentivise fuel distributors and terminal operators to build inventory ahead of peak demand periods. Summer driving season creates the highest gasoline storage utilisation at coastal import and distribution terminals. Regional supply imbalances — caused by refinery outages or import timing — create short-term spot lease demand spikes that terminal operators price at a premium.
What is the gasoline price in different currencies?
Gasoline is priced in US dollars at the wholesale level globally, with retail prices converted to local currencies based on national tax regimes. This page includes a currency conversion table covering EUR, GBP, JPY, AED, CNY, and INR, updated monthly from mid-market exchange rates.
What is the gasoline price per litre and barrel?
Gasoline is most commonly quoted per US gallon in North America and per litre in Europe and the UK. This page includes a unit conversion table covering US gallon, litre, Imperial gallon, barrel, and metric tonne — all calculated from the current RBOB wholesale benchmark price.
How current is the price data on this page?
Price data on this page is updated monthly. Figures reflect the most recent available benchmark data from the EIA and major exchange sources. For real-time wholesale prices, refer directly to CME Group or NYMEX.