Gasoline Prices Today and (Maybe) Tomorrow

Assuming futures contract prices for gasoline are useful predictors for future gasoline prices:

Figure 1: Average regular gasoline prices (black), NYMEX RBOB August 2022 gasoline futures prices (blue), and NYMEX RBOB gasoline futures (red +), all in $/gallon, on log scale. July futures prices through 7/5. Source: EIA via FRED, INO.COM accessed 7/6, and author’s calculations.

From Ederington et al. (J.Comm.Markets, 2019) [ungated version]:

More detailed discussion of futures as predictors of energy prices, see here.

Addendum:

Price of regular gasoline, through July 4th.