Gasoline Rises, but Demand Worries Persist
GAITHERSBURG, MD - Crude oil closed within a few dollars of its 2009 high, but gasoline and heating oil are some 5-8 percent or so below top levels witnessed earlier in the month, according to the Oil Price Information Service.
GAITHERSBURG, MD - Petroleum futures rallied across a broad front June 29 with expectations, even as other commodities, including natural gas, posted a mixed performance. Crude oil closed within a few dollars of its 2009 high, but gasoline and heating oil are some 5-8 percent or so below top levels witnessed earlier in the month, the Oil Price Information Service (OPIS) reports.
The International Energy Agency, which previously talked of the hazards of low investment thanks to the 2008 price plunge, projected that sluggish demand might persist so that non-OPEC production cuts wouldn't cast a shadow until a year or more from now. The Energy Information Administration, meanwhile, released some stats that showed that April 2009 gasoline demand was perhaps 91,000 b/d or so lower than what weekly statistical bulletins had implied. EIA's data on diesel declined, with demand for ULSD some 13.7 percent lower in April 2009 than in April 2008, numbers suggest, according to OPIS.
Yet most petroleum futures were up by about three percent June 29. August WTI rallied by $2.33 bbl in the session, settling at $71.49 bbl.
RBOB at one point looked as though it might reach a double digit gain, but it advanced by "only" 6.17cts gal today to $1.9358 gal for July delivery. August contracts were up 6.35cts gal to $1.9358 gal.
Heating oil couldn't quite match crude oil gains, but July futures added 5.32 cents gal and settled at $1.7835 gal while August contracts rose 5.27 cents gal to $1.8372 gal.
More Fuel

Study: How 2026's Gas Price Hikes Affect Different Vehicle Types
New data from iSeeCars reveals how rising fuel costs have affected different vehicle segments as gasoline prices climbed nearly 46% over the past four months.
Read More →Are You Tracking Your Fleet's True Total Cost of Ownership?
Bobit Business Media surveyed 190 fleet professionals and found that while most fleets are tracking costs, fragmented systems and data gaps are keeping true TCO visibility out of reach. With rising pressure to control spend in an increasingly volatile environment, the gap between what fleets think they know and what the data actually shows is wider than you might expect. See how your peers are managing costs today and where the industry still has room to improve.
Read More →
May Fuel Update: All Regions Experience Declines
Gas prices are finally easing in much of the country, but experts warn global tensions could quickly reverse the trend as the national average remains well above last month’s levels.
Read More →
April Fuel Update: Prices Climb Above $4 as Spring Surge Accelerates
National average jumps to $4.04 per gallon, up sharply from last year, with West Coast prices topping $5 and further increases expected amid rising oil tensions.
Read More →
Tips from Fleet Managers on Saving Fuel Costs
Fleet leaders share practical strategies to reduce fuel spend through smarter policy, routing, and driver guidance.
Read More →
March Fuel Update: Prices Settle With a $4 Average
Fuel prices significantly slowed this week, but a $4 national average is still expected.
Read More →Bob Adamsky on Fuel Volatility: “Don’t Panic — Have a Plan”
With oil prices rising again, AWP Safety’s fleet manager shares how to respond to rising fuel costs and how the right strategy can turn fuel spikes into cost-saving opportunities.
Read More →
Oil Market Turbulence Is Complicating Fleet Cost Planning
Rapid swings in crude oil prices driven by the conflict in the Middle East could create longer-term cost pressures for fleets, affecting fuel prices, supply chains, and vehicle strategy, says NTEA’s Andrew Wrobel.
Read More →
February Fuel Update: Prices Inch Higher for Third Week in a Row
The final February fuel update reveals prices continuing to inch higher for the third week in a row.
Read More →
The 2026 Fuel Economy Guide: Updated Cost and Efficiency Benchmarks for Fleets
Fleet managers can use the DOE’s 2026 Fuel Economy Guide to benchmark MPG across powertrain types using side-by-side vehicle ratings and compare new model-year options.
Read More →