Gasoline Futures Steady as Retail Pump Prices Reach Five Year Lows

Refinery Margin Squeeze

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.

2026 Demand Outlook

Despite low prices, gasoline demand remains seasonally weak. The EIA expects consumption to rise in late Q1 as the spring driving season approaches, which may finally put an end to the current price slide.