Gasoline prices today and (possibly) tomorrow

Assuming that gasoline futures prices are useful predictors of future gasoline prices:

Figure 1: Average regular gasoline prices (black), August 2022 NYMEX RBOB gasoline futures prices (blue), and NYMEX RBOB gasoline futures (red +), all in dollars per gallon on a logarithmic scale. Prices for July futures until 05.07. Source: EIA via FRED. INO.COM access 7/6, and author’s calculations.

From Ederington et al. (J.Comm.Markets, 2019) [ungated version]:

For a more detailed discussion of futures as predictors of energy prices, see here.

Application:

The price of regular gasoline until July 4th.