New York, January 20, 2026, 07:21 EST — Premarket
- U.S. gasoline futures edged up early Tuesday, following the climb in crude prices after the U.S. holiday.
- According to AAA, retail gas prices held steady near $2.80 a gallon.
- Traders await this week’s delayed U.S. fuel inventory data for fresh direction.
U.S. wholesale gasoline prices edged higher in early Tuesday trading, despite minimal movement at the pump for consumers. NYMEX February RBOB gasoline futures, a major U.S. wholesale gauge, rose 1.0% to $1.8027 a gallon by 7:20 a.m. EST.
The timing is key since this week’s main U.S. fuel-supply data is delayed, pushing markets to focus on crude prices and headlines for the moment. The Energy Information Administration announced its Weekly Petroleum Status Report will drop Thursday, January 22, rather than the usual Wednesday, due to the U.S. federal government shutdown on Monday.
Gas prices held steady Tuesday, with AAA reporting the national average for regular gasoline at $2.822 a gallon—unchanged from Monday and roughly 30 cents lower than this time last year. Diesel averaged $3.514 nationwide.
Crude led the way. Brent futures for March climbed 23 cents, or 0.36%, hitting $64.17 a barrel. U.S. WTI gained 13 cents, or 0.2%, to $59.57, according to Reuters. PVM’s Tamas Varga noted that U.S. tariff threats over Greenland won’t have an “immediate impact on the oil balance.” IG’s Tony Sycamore cited China’s resilience as a key factor supporting demand sentiment. Reuters
Oil’s geopolitical premium looked less certain than a week ago, though it hasn’t vanished. Reuters reported Monday that civil unrest in Iran had eased, lowering some immediate supply worries. Attention shifted instead to the Greenland dispute and the potential fallout from a wider U.S.-Europe trade clash, with Rystad analyst Janiv Shah warning that “any trade war expansion could impact demand.” Rory Johnston, founder of Commodity Context, called the Greenland row a “risk-off” factor, despite no direct supply link, while Price Futures Group’s Phil Flynn suggested these opposing pressures might leave crude stuck in “a sort of sideways trade.” Reuters
Gasoline’s connection to crude is clear but often complicated: RBOB usually tracks crude prices since it’s made from oil. Still, it can break away when refinery production shifts or inventory changes ease short-term supply concerns.
The futures rally doesn’t promise quick relief—or a spike—at the pump in the coming days. Retail prices usually trail wholesale shifts, and with sluggish demand plus stiff competition, station pricing often sticks.
There’s a clear risk for bulls. Should Thursday’s U.S. data reveal another hefty rise in gasoline inventories, or if crude drops amid trade-related growth concerns, wholesale gasoline might erase its morning gains fast.
Traders are focused on two key factors: if crude can maintain its recent support amid no new supply disruptions, and whether gasoline cracks—the refining margin between crude and products—remain strong enough to back higher wholesale prices.
Thursday, January 22, brings the EIA’s delayed inventory report. U.S. gasoline stockpiles and refinery runs are expected to steer the market’s course for the days that follow.
