NYMEX gasoline April futures settle at $2.6709 a gallon

NYMEX gasoline April futures settle at $2.6709 a gallon

NYMEX RBOB gasoline April futures settled at $2.6709 per gallon on March 5, 2026, reflecting continued volatility in energy markets driven by geopolitical tensions and supply concerns. The price increase follows a sharp rise earlier in the week, with April contracts surging 4.24% on March 2 amid escalating conflicts in Iran, which disrupted tanker traffic through the Strait of Hormuz—a critical global oil transit corridor. Analysts attribute the sustained upward pressure to reduced regional stability, OPEC+ production adjustments, and broader macroeconomic factors, including fluctuations in the U.S. dollar index ($DXY).

The RBOB gasoline futures contract, with a size of 42,000 gallons and price quotations in U.S. dollars and cents per gallon, remains a key instrument for hedging refined product price risks. Trading hours for the contract extend across weekends on CME Globex, with continuous sessions from Sunday to Friday, excluding a daily 60-minute break. Market participants are also monitoring the Energy CVOL Index (EVL), which measures 30-day implied volatility derived from energy options, as a forward-looking gauge of risk expectations.

Recent price movements highlight the interplay of geopolitical, regulatory, and demand-side factors influencing refined fuel markets. While short-term volatility persists, long-term trends such as renewable fuels demand and global refining capacity shifts may shape hedging strategies and investment decisions in the sector.