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US Retail Gasoline Prices Keep Rising


US nationwide average gasoline retail price rises to $4.598 per gallon another record high and up >51% y-on-y, based on AAA motoring club data.

  • Higher gasoline prices have had limited impact on gasoline demand across the US. This weekend marks the US Memorial Day holiday and the start of the US driving season when gasoline demand is at its highest seasonally.
  • The White House is exploring a range of measures to try and supress rising prices but so far, they have had limited impact while higher demand will likely see further upward pressure.
  • The US East Coast in particular is facing gasoline tightness due to a lack of refining capacity and less volumes available to import from European and Canadian markets which also face tightness.

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