empty
 
 

2026.08.2111:48:05UTC+00Gasoline Prices Rise

US gasoline futures climbed to about $3.30 per gallon, up from roughly $3.25 on Thursday, as traders awaited details of a new US initiative to further isolate Iran’s economy amid ongoing conflict that is disrupting energy exports from the Middle East. President Donald Trump announced plans for an economic package aimed at increasing pressure on Iran, potentially enlisting China, the largest buyer of Iranian crude, in these efforts.

Supply concerns were compounded by Russia’s war in Ukraine. Ukrainian strikes on Russian refineries have tightened fuel supplies, triggering shortages and renewed rationing in several areas. At the same time, US gasoline refining margins have surged 86% since the conflict began, underscoring the limited spare capacity and flexibility among refiners.

At the retail level, average pump prices for regular gasoline remained above $4 per gallon in most US regions, with some areas seeing prices exceed $5. In response, the Environmental Protection Agency plans to end summer gasoline blend requirements ahead of schedule to help alleviate costs. As of August 20, the national average gasoline price stood at $4.10 per gallon.

  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $1000 more!
    In August we raffle $1000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS


Can't speak right now?
Ask your question in the chat.
Widget callback