RBOB Gasoline Intelligence Report

RBOB gasoline has corrected 16% from the April 30 peak of $3.77/gal, trading at $3.16 as of June 3. The decline reflects easing crude feedstock costs, bearish sentiment after the late-April spike, and positioning adjustments ahead of the summer-grade blend transition. However, gasoline inventories at 211.6 million barrels sit well below the 5-year average, and US product supplied reached 9,256 kb/d in late May — signaling strong pre-summer demand. The balance between adequate current supply and tightening inventory fundamentals frames a cautiously constructive outlook, with asymmetric upside risk if summer demand accelerates or a hurricane disrupts Gulf Coast refining.