GasolineXB1
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About Gasoline (XB1)
RBOB Gasoline (XB1) futures track the wholesale price of reformulated gasoline blendstock, the primary ingredient in finished motor gasoline. Traded on NYMEX, gasoline prices directly impact consumers and serve as a key economic indicator.
Gasoline Price Drivers
Gasoline prices are influenced by global supply and demand dynamics, geopolitical events, weather patterns, currency fluctuations, and economic indicators. Futures contracts traded on exchanges like COMEX, NYMEX, and ICE provide price discovery, while physical market conditions and inventory levels drive spot pricing.
Frequently Asked Questions
- What is RBOB gasoline?
- RBOB (Reformulated Blendstock for Oxygenate Blending) is the primary gasoline benchmark traded on NYMEX. It represents wholesale gasoline before ethanol blending. Retail pump prices are derived from RBOB futures plus taxes, blending costs, distribution margins, and retailer markups.
- Why do gasoline prices vary seasonally?
- Gasoline prices exhibit strong seasonality. Prices typically rise in spring as refineries switch to costlier summer-blend formulations and driving season demand increases. They often peak around Memorial Day and decline after Labor Day as refineries switch back to cheaper winter-grade fuel.
- What affects gasoline prices?
- Gasoline prices are driven by crude oil costs (roughly 50-60% of the price), refinery utilization rates, seasonal demand patterns, inventory levels, environmental regulations requiring different fuel blends, and disruptions from hurricanes or refinery outages.