About Gasoline (RBOB)
RBOB is the wholesale gasoline blendstock benchmark for New York Harbor. It tracks crude oil but adds its own seasonal pattern linked to the US summer driving season and refinery operations.
What moves the gasoline (rbob) price
- Crude oil costs and refinery utilisation.
- Seasonal demand, peaking during the US summer driving season.
- Weekly EIA gasoline inventories and implied demand.
- Changes between winter- and summer-grade fuel specifications.
Summer and winter grades
US gasoline specifications change with the seasons. Summer-grade fuel must have a lower vapour pressure to limit smog, which makes it more expensive to produce. The futures curve reflects this: contracts for spring and summer delivery usually trade at a premium to winter months, and continuous charts can jump when the front contract switches between grades. Keep that in mind before reading a chart move as a change in fundamentals.
From futures to the pump
Retail pump prices follow RBOB with a lag of days to weeks and include taxes, distribution costs and retail margins, so they move less in percentage terms. Demand peaks in the summer driving season, while refinery outages, hurricanes on the Gulf Coast and pipeline problems can cause sharp regional price spikes. The weekly EIA report tracks gasoline inventories and implied demand.
Contract specifications
| Benchmark future | NYMEX RBOB Gasoline (RB), CME Group |
|---|---|
| Contract size | 42,000 US gallons (1,000 barrels) |
| Minimum tick | $0.0001 per gallon = $4.20 per contract |
| Contract months | Every calendar month |
| Settlement | Physical delivery in New York Harbor |
| Product | Reformulated gasoline blendstock for oxygenate blending (blended with ethanol) |
Specifications as published by the exchange; they can change, so confirm on the exchange website before trading.
Trading hours
CME Globex trades almost around the clock: Sunday to Friday, 6:00 pm to 5:00 pm US Eastern Time, with a one-hour daily break.
Contract basics
NYMEX RBOB Gasoline (RB) covers 42,000 US gallons and is quoted in dollars per gallon.
Quote unit
USD per gallon. Hours and specifications can change; always confirm on the exchange's website, especially around holidays.
Gasoline (RBOB) FAQ
What moves the price of gasoline (rbob)?
Crude oil costs and refinery utilisation. Seasonal demand, peaking during the US summer driving season. Weekly EIA gasoline inventories and implied demand. Changes between winter- and summer-grade fuel specifications.
When does gasoline (rbob) trade?
CME Globex trades almost around the clock: Sunday to Friday, 6:00 pm to 5:00 pm US Eastern Time, with a one-hour daily break.
What is the standard gasoline (rbob) contract?
NYMEX RBOB Gasoline (RB) covers 42,000 US gallons and is quoted in dollars per gallon.
What does RBOB stand for?
Reformulated Blendstock for Oxygenate Blending: gasoline that is ready to be mixed with ethanol before sale at the pump.
Why do gasoline prices rise in spring?
Refiners switch to more expensive summer-grade fuel, carry out maintenance and build stocks ahead of the driving season.