Gasoline Prices

Gasoline prices averaged USD 2 per gallon in November, down 2.3% from October. On 29 November, the commodity traded at USD 1.90 per gallon, down 3.6% from 31 October.

The drop shadowed that of crude, gasoline’s main ingredient. Moreover, the crack spread—gasoline’s price premium over crude—also fell, coming close to September’s 11-month low; U.S. refinery capacity utilization rose to 91% from 89%, one of the highest rates in the post-pandemic era.