Gasoline Prices man

Gasoline prices averaged USD 3.50 per gallon in May, up 7.2% from April. On 29 May, the commodity traded at USD 3.03 per gallon, down 16.1% from 30 April.

In May, gasoline’s price premium vs crude shot up a further 25% to its highest since July 2022. U.S. inventories fell for the 15th consecutive week in the seven days to 22 May, the joint-longest drop on record and bringing them to their lowest level for this time of year since 2014—and just before the U.S. driving season begins.