US gasoline futures rise to $3.30 as Iran pressure disrupts energy outlook

US gasoline futures climbed to around $3.30 per gallon after holding near $3.25 on Thursday, with traders awaiting details of a US campaign to isolate Iran’s economy amid an ongoing conflict disrupting Middle Eastern energy exports. President Donald Trump announced plans for an economic package to intensify pressure on Iran, potentially involving China, the largest buyer of Iranian crude. Fuel-supply concerns were also amplified by Russia’s war with Ukraine, as Ukrainian strikes on refineries strained availability and caused shortages and renewed rationing in several regions. US gasoline refining margins have surged 86% since the conflict began, pointing to limited flexibility among refiners. Regular gasoline pump prices remained above $4 per gallon in most US regions, with a few exceeding $5. The EPA (US environmental regulator) is set to end summer gasoline blend requirements early to help ease prices; the average price was $4.10 on August 20.

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