Gasoline Blendstock

Exchange Symbol RB QU
Chart (10 min.delay)  VIEW CHART  
Exchange NYMEX NYMEX
Trading Months All Months All Months
Contract Size 42,000 gallons 21,000 gallons
Tick Size $0.0001 (0.01 cent) per gallon ($4.20 per contract) $0.0010 (0.10 cent) per gallon ($21.10 per contract)
Daily Limits $0.25 per gallon ($10,500 per contract) $0.25 per gallon ($10,500 per contract)
Trading Hours

5:00p.m. - 4:00p.m. (Sun-Fri) (RTH 8:00a.m. - 1:30p.m.) CST

5:00p.m. - 4:00p.m. (Sun-Fri) (RTH 8:00a.m. - 1:30p.m.) CST

Last Trading Day The last business day of the month preceding the delivery The last business day of the month preceding the delivery
Value of One Futures Unit $42,000.00 $21,000.00
Value of One Options Unit $42,000.00 No
Margin Initial/Maintenance $4,785 / $4,350 VIEW CME MARGINS $2,475 / $2,250 VIEW CME MARGINS
Gasoline Futures Calendar VIEW CALENDAR  

+Info Gasoline is a complex mixture of hundreds of lighter liquid hydrocarbons and is used chiefly as a fuel for internal-combustion engines. Petroleum crude, or crude oil, is still the most economical source of gasoline with refineries turning more than half of every barrel of crude oil into gasoline. The three basic steps to all refining operations are the separation process (separating crude oil into various chemical components), conversion process (breaking the chemicals down into molecules called hydrocarbons), and treatment process (transforming and combining hydrocarbon molecules and other additives). Another process, called hydrotreating, removes a significant amount of sulfur from finished gasoline as is currently required by the state of California.

Octane is a measure of a gasoline's ability to resist pinging or knocking noise from an engine. Most gasoline stations offer three octane grades of unleaded fuel-regular at 87 (R+M)/2, mid-grade at 89 (R+M)/2, and premium at 93 (R+M)/2. Additional refining steps are needed to increase the octane, which increases the retail price. This does not make the gasoline any cleaner or better but yields a different blend of hydrocarbons that burn more slowly.

In an attempt to improve air quality and reduce harmful emissions from internal combustion engines, Congress in 1990 amended the Clean Air Act to mandate the addition of ethanol to gasoline. Some 2 billion gallons of ethanol are now added to gasoline each year in the U.S. The most common blend is E10, which contains 10% ethanol and 90% gasoline. Auto manufacturers have approved that mixture for use in all U.S. vehicles. Ethanol is an alcohol-based fuel produced by fermenting and distilling crops such as corn, barley, wheat, and sugar.

Unleaded gasoline futures and options trade at the CME Group. The CME's gasoline futures contract calls for the delivery of 1,000 barrels (42,000 gallons) of unleaded gasoline in the New York harbor and is priced in terms of dollars and cents per gallon.

Price - CME gasoline futures prices (Barchart.com symbol code RB) opened 2017 at $1.6709 per gallon and rallied throughout the year to close the year up +7.5% at $1.7958 per gallon. The average monthly retail price of regular unleaded gasoline in 2017 rose +12.4% yr/yr to $2.41 per gallon. The average monthly retail price of unleaded premium motor gasoline in the U.S. in 2017 rose +11.5% to $2.91 per gallon. The average monthly refiner price of finished aviation gasoline to end users in 2014 (latest data) rose +1.4% yr/yr to $3.986 per gallon.

Supply - U.S. production of finished motor gasoline in 2017 fell -0.4% yr/yr to 9.954 million barrels per day. Gasoline stocks in December of 2017 were down -13.9% to 26.641 million barrels

Demand - U.S. consumption of finished motor gasoline in 2017 fell -0.1% yr/yr to 9.311 million barrels per day, a new record high.

Information on commodities is courtesy of the CRB Yearbook, the single most comprehensive source of commodity and futures market information available. Its sources - reports from governments, private industries, and trade and industrial associations - are authoritative, and its historical scope for commodities information is second to none. The CRB Yearbook is part of the cmdty product line. Please visit cmdty for all of your commodity data needs.

Have a questions about trading Gasoline?

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Gasoline Options or Gasoline Spreads - just post a question to our help forum.

Free Futures and Options Brochures from CME Group

Here you will find self-study guides for hedgers, market fact sheets and introductions to futures and options trading. 

DISCLAIMER: The above information was drawn from sources believed to be reliable. Although it is believed that the information provided is accurate, no guarantee is made. ITG Futures assumes no responsibility for any errors or omissions.

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ITG Capital Management, LLC (d.b.a ITG FUTURES) is an independent introducing broker|Registered CFTC|NFA Member. Our clearing partners are Clearing Members at CME, CBOT, COMEX, NYMEX, ICE-US, Eris Exchange, Eurex, and other commodity futures exchanges in Europe and Asia. 

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