The conflict between the U.S., Israel and Iran has disrupted oil flows through the Strait of Hormuz, pushing up crude oil prices. Higher crude costs have lifted gasoline and diesel prices, contributing to broader inflation. Supply constraints are expected to keep prices elevated until mid‑2027.
Gasoline prices rose sharply as the U.S. energy index increased due to ongoing conflict between the United States and Iran. The rise in fuel costs contributed significantly to overall consumer price inflation. Higher gasoline costs signal upward pressure on transportation and logistics expenses.
| Product | Region | Incoterm Basis | Price | Last Updated Month |
|---|---|---|---|---|
| Gasoline | USA | FOB | USD 1.17/Liter | August 2026 |
| Gasoline | Saudi Arabia | FOB | USD 1.00/Liter | August 2026 |
| Gasoline | Russia | FOB | USD 0.88/Liter | August 2026 |
| Gasoline | China | FOB | USD 1.33/Liter | August 2026 |
| Gasoline | India | FOB | USD 1.14/Litre | August 2026 |
| Gasoline | USA | FOB | USD 1.07/Liter | July 2026 |
| Gasoline | Saudi Arabia | FOB | USD 0.62/Liter | July 2026 |
| Gasoline | Russia | FOB | USD 0.88/Liter | July 2026 |
| Gasoline | China | FOB | USD 1.02/Liter | July 2026 |
| Gasoline | India | FOB | USD 1.14/Litre | July 2026 |
Stay updated with the latest Gasoline prices, historical data, and tailored regional analysis
Asia
In Saudi Arabia, the average price of Gasoline jumped from ~USD 0.62/Liter (FOB) in July to ~USD 1.00/Liter in August, a steep increase of ~61.3%. China also recorded a strong rise of about 30.4%, from ~USD 1.02/Liter (FOB) to ~USD 1.33/Liter, while India held steady at around USD 1.14/Litre (FOB) during the same period. Saudi export values surged as crude costs rose sharply and threats to shipping through the Red Sea and Hormuz made available cargoes far more valuable. Refining margins in Singapore climbed well above pre-conflict levels, and the region's fuel imports fell about 21% below early-year levels. Chinese refiners responded by raising product exports in August after restrictions were eased. Indian export values stayed stable during the period.
Europe
In Russia, gasoline averaged approximately USD 0.88/Liter (FOB) in the first two months of Q3’26. Ukrainian attacks on Russian refineries reduced output, but sellers kept export offers steady to retain buyers. Elsewhere in Europe, petrol prices hit an all-time high in mid-September, as crude costs rose and refinery throughput stayed well below last year. However, refining margins made up only about 8% of the euro-area retail petrol price, far less than for diesel, and appeared to have peaked.
North America
In the USA, average gasoline prices increased from nearly USD 1.07/Liter (FOB) in July to roughly USD 1.17/Liter in August, a rise of ~9.3%. Retail gasoline reached a record level for August, as crude costs climbed and global fuel supply stayed constrained by the Iran conflict and the war in Ukraine. Prices kept rising through most of September after the Saudi pipeline shutdown lifted crude costs, before flattening in the final week.
Analyst Insight
According to Procurement Resource, gasoline prices are likely to stay elevated on high crude costs and low inventories, though peaking margins and the end of the summer driving season may ease pressure.
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Asia
In Saudi Arabia, monthly average gasoline prices were ~SAR 2.32/liter in the first two months of Q2’26. In India, monthly average Gasoline prices were ~INR 103.44/liter in April and ~INR 109.25/liter in May, showing a ~5.6% increase. Asia strengthened early in the quarter as export supply tightened after Middle East-related disruption. Regional gasoline exports fell to 1.59 mb/d in April from 2.28 mb/d before the conflict period, reducing spot availability. India saw stronger support from steady road fuel consumption, with motor spirit demand staying active through April-June. Saudi prices remained stable, helped by domestic price control and balanced local supply, but the wider Asian market still carried a supply-risk premium.
Europe
In Russia, gasoline prices were ~RUB 71.97/liter in April and ~RUB 67.59/liter in the following month, showing a ~6.1% decrease. The fall reflected softer domestic market conditions and easing crude-risk premiums after the initial supply shock. Wider European gasoline fundamentals, however, were tighter. European gasoline and blending component shipments averaged 1.63 mb/d in May, lower than the previous year, as exports to the U.S. declined and local demand improved ahead of the driving season. Supply was also affected by refinery closures, lower product availability, and refiners giving more focus to middle distillate output. Still, weaker petrol car registrations limited the depth of demand growth.
North America
In the United States, gasoline prices were ~USD 1.16/liter in April and ~USD 1.13/liter in the subsequent month, showing a marginal decrease. Prices eased despite tight inventories, as higher refinery runs improved supply late in the quarter. Refinery utilization rose from 94.5% in late May to 96.6% in late June, helping maintain finished gasoline output. Demand was supported by summer driving, but gasoline supplied moved slightly lower by late June, preventing stronger price gains. Imports into the Atlantic Coast increased as buyers tried to cover low regional stocks, but improved refinery activity kept the market from rising further.
Gasoline, a mixture of flammable liquid hydrocarbons, is a derivative product of crude oil/petroleum that is widely used as a fuel in internal combustion engines. It has become one of the most popular automobile fuels owing to its high energy of combustion and capacity to mix readily with air in a carburetor.
It can have many different compositions to meet a host of engine performance specifications. It is produced as a by-product during the manufacture of kerosene in the petroleum industry.
Solvent for oils and fats, Aviation gasoline, Automobile gasoline
Gas or Petrol
Gazprom PAO, Royal Dutch Shell Plc, Exxon Mobil Corporation, PetroChina Company Limited, BP Plc
CurrencyUS$ (Data can also be provided in local currency)
Supplier Database AvailabilityYes
Customization ScopeThe report can be customized as per the requirements of the customer
Post-Sale Analyst Support360-degree analyst support after report delivery
Note: Our supplier search experts can assist your procurement teams in compiling and validating a list of suppliers indicating they have products, services, and capabilities that meet your company's needs.
The manufacturing of Gasoline begins with the processing of crude oil or petroleum in an oil refinery.Gasoline is obtained after the fractional distillation of petroleum, where the process is enhanced with a variety of additives.
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