Gasoline (also called petrol in many countries) is a refined petroleum product consisting of a complex mixture of hydrocarbons, primarily in the C4 to C12 carbon range, with a boiling range of approximately 30°C to 215°C (86°F to 419°F). It is produced from crude oil through distillation, catalytic cracking, reforming, alkylation, and blending operations. Gasoline is the predominant fuel for spark-ignition internal combustion engines used in automobiles, motorcycles, small aircraft, and light-duty vehicles. Its key performance characteristic is the octane number, which measures resistance to autoignition (knock). Modern gasoline formulations also contain oxygenates such as ethanol or MTBE to improve combustion efficiency and reduce emissions, as well as detergent additives, antioxidants, and corrosion inhibitors. It is a highly flammable, volatile liquid and is one of the most widely consumed energy products in the world.
How About the Price?
Key Influence Events
Data source: UN Comtrade monthly trade statistics (https://comtradeapi.un.org/public/v1/preview/C/M/HS?period=202606&cmdCode=271012&partnerCode=0&flowCode=X&includeDesc=true) | Last updated: 2026-09-24
Price Trajectory, latest 12 months (2025-07 to 2026-06)
The monthly customs export unit value for HS 271012 moved from USD 594/ton in 2025-07 to USD 844/ton in 2026-06 (+42.2% across the window). The window high was USD 919/ton in 2026-05 and the low USD 554/ton in 2026-01. Three-month averages put the latest quarter +41.0% against the previous one, which is classified here as bullish.
The same panel reported USD 100,525.9 million of export value on 153,287,688 tonnes over the twelve months, an average of 12,773,974 tonnes a month. These are customs returns for the stated HS heading, so they capture the traded mix of that heading rather than a single quoted grade.
Supply-side factors
- Fixed reporting panel of 11 economies: BRA, CAN, CZE, DEU, HUN, MYS, NLD, POL, SWE, EGY, USA. The panel is constant in every month of the window, so month-to-month movement is not a composition effect.
- Monthly unit value range over the window: USD 554 to USD 919/ton.
- Latest month, 2026-06: USD 844/ton, -8.1% against the previous month, on 13,154,128 tonnes.
Demand-side factors
- COVID-19 related lockdowns caused demand drops of 25-30% month-over-month in early 2022, suppressing gasoline consumption and pressuring prices downward.
- Gradual recovery in gasoline demand through 2021 and stabilization by 2023 as vehicle miles traveled and economic activity normalized.
- Rising US gasoline consumption projected through 2024-2025, contributing to inventory draws and putting upward pressure on prices despite refinery rationalization.
- Regional demand differences with California's high-specification market requiring greater imports due to local refining constraints.
- Adjustments to seasonal blend requirements and impacts from changing consumer driving patterns affecting demand seasonally and regionally.
Related market pages on this site: Naphtha, Crude Oil, Mixed C4, Butadiene market analysis.
Basis: these are customs unit values for the stated HS heading, not quoted spot, contract or assessed prices, and no paid price assessment is used or redistributed on this page. Every figure can be re-checked at the API links listed at the end of this page. Coverage note: HS 271012 covers light petroleum oils and preparations (gasoline, naphtha, white spirit and similar streams), so the line average blends those grades rather than quoting one product.
Top Countries Production Capacity
| Property | Typical Value / Range | Unit | Grade / Standard |
|---|---|---|---|
| Research Octane Number (RON) | 91 / 95 / 98 | - | Regular / Mid-grade / Premium |
| Anti-Knock Index (AKI = (RON+MON)/2) | 87 / 89 / 91-93 | - | Regular / Mid-grade / Premium (US market) |
| Motor Octane Number (MON) | 82 – 90 | - | All grades |
| Reid Vapor Pressure (RVP) | 45 – 103 (summer: 45–62; winter: up to 103) | kPa | Seasonal grades per ASTM D4814 |
| Distillation – T10 (10% evaporated) | ≤ 70 | °C | ASTM D4814 / EN 228 |
| Distillation – T50 (50% evaporated) | 77 – 121 | °C | ASTM D4814 / EN 228 |
| Distillation – T90 (90% evaporated) | ≤ 190 | °C | ASTM D4814 / EN 228 |
| Final Boiling Point (FBP) | ≤ 215 | °C | ASTM D4814 / EN 228 |
| Density at 15°C | 720 – 775 | kg/m³ | EN 228 |
| Sulfur Content | ≤ 10 (Euro 5/6); ≤ 30 (US Tier 3) | mg/kg (ppm) | Low-sulfur / Ultra-low-sulfur |
| Benzene Content | ≤ 1.0 | % vol | EN 228 / EPA |
| Aromatics Content | ≤ 35 | % vol | EN 228 |
| Olefins Content | ≤ 18 | % vol | EN 228 |
| Oxygen Content | ≤ 3.7 | % mass | EN 228 |
| Ethanol Content (E10 blend) | up to 10 | % vol | E10 grade |
| Ethanol Content (E85 blend) | 51 – 83 | % vol | E85 / Flex-fuel grade |
| Lead Content | ≤ 0.005 (effectively zero) | g/L | Unleaded (ULP) |
| Oxidation Stability (Induction Period) | ≥ 240 | minutes | ASTM D4814 |
| Copper Strip Corrosion | Class 1 | - | ASTM D130 |
| Net Heating Value (LHV) | ~43.4 – 44.4 | MJ/kg | All grades |
Data Sources
Price, volume and capacity figures on this page are computed from the public sources listed below; no subscription assessment data is used or redistributed.
- UN Comtrade monthly public trade statistics — HS 271012, exports, by month (2025-07 to 2026-06): 2025-07, 2025-08, 2025-09, 2025-10, 2025-11, 2025-12, 2026-01, 2026-02, 2026-03, 2026-04, 2026-05, 2026-06
- Fixed reporting panel for this series: BRA, CAN, CZE, DEU, HUN, MYS, NLD, POL, SWE, EGY, USA. The exact API calls are the per-month links above.
- Capacity / output figures: JODI-Oil World Database, 2025 annual file (gasoline refinery output), annual totals built from monthly kilotonnes — https://www.jodidata.org/_resources/files/downloads/oil-data/annual-csv/secondary/2025.csv. Download page: jodidata.org/oil/database/data-downloads.aspx. A country is included only if it filed a numeric figure in all 12 months of 2025 (60 countries qualified); the Global row is the sum of those reporting countries, not a world estimate.
Who are the Top Players?
| Company | Headquarters | Key Facilities |
|---|---|---|
| ExxonMobil | Irving, Texas, USA | Baytown TX, Beaumont TX, Baton Rouge LA |
| Shell | The Hague, Netherlands | Convent LA, Norco LA, Sarnia ON, Canada, Pernis NL |
| Chevron | San Ramon, California, USA | Pascagoula MS, El Segundo CA, Richmond CA |
| BP | London, UK | Whiting IN, US |
| TotalEnergies | Paris, France | Grandpuits FR |
| Marathon Petroleum | Findlay, Ohio, USA | Galveston Bay TX, Garyville LA, Robinson IL, Catlettsburg KY, Robinson IL |
| Valero | San Antonio, Texas, USA | Port Arthur TX, Wilmington CA, Benicia CA |
| Sinopec | Beijing, China | Zhenhai CN, Jinling CN, Maoming CN, Tianjin CN, Shanghai Gaoqiao CN |
| Reliance Industries | Mumbai, India | Jamnagar India |
| PDVSA | Caracas, Venezuela | Paraguana Venezuela |
| SK Energy | Seoul, South Korea | Ulsan South Korea |
| GS Caltex | Seoul, South Korea | Yeosu South Korea |
| S-Oil | Seoul, South Korea | Ulsan South Korea |
| Indian Oil | New Delhi, India | Panipat India, Guwahati India |
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