Gasoline Futures Edge Higher on Crude Oil Strength and Geopolitical Friction

Refinery Margin Pressure

Refiners are facing narrowed 'crack spreads' as gasoline supplies remain ample. To maintain profitability, many facilities are focusing on diesel production, which inadvertently keeps gasoline as a low-cost byproduct in the spot market.

Retail Pump Relief

Despite the uptick in futures, the national average for retail gasoline is projected to stay near $2.92 for the full year 2026. This lower energy cost environment is expected to support consumer spending throughout the first half of the year.