U.S. Gasoline Prices Continue Falling as Futures Hit Two-Year Low

U.S. gasoline futures slumped this week to the lowest level since 2021, suggesting that the average American pump price will continue to drop and end the year below $3 per gallon. On Thursday, the NYMEX RBOB gasoline futures contract dropped below the $2 per gallon mark, as demand is weakening and supply is building.

The benchmark gasoline futures fell to below $2 a gallon for the first time since 2021.   The latest inventory report from the EIA showed an inventory build of 5.4 million barrels of gasoline for last week. This compared with…