# Explainer: What is happening with U.S. gasoline prices? | Reuters

> Reuters explains that US gasoline prices have risen sharply, with the regular retail average at $3.40 per gallon, up about 61% from a year earlier. The White House announced plans to release millions of barrels from strategic reserves in coordination with other nations to lower costs.

- Date: 2021-11-24 · published 2021-11-24T12:00:00.000Z
- Category: policy · region US · magnitude medium
- Page: https://feedsoft.ai/events/7078-explainer-what-is-happening-with-u-s-gasoline-prices-reuters
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [ULSD / Diesel](https://feedsoft.ai/c/DIESEL.md)

## Why it matters

The reserve release and political pressure to lower fuel prices could weigh on crude and diesel, lowering fuel and freight costs for feed buyers, though the effect on grain and meal prices is indirect.

## Read by commodity

- WTI: bearish ▼
- DIESEL: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2025-03-31 | [OPEC+ is boosting output in April. Here's what that could mean for oil prices. - Tiger Brokers](https://feedsoft.ai/events/25753-opec-is-boosting-output-in-april-here-s-what-that-could-mean-for-oil-prices.md) | -10.5% | -9.7% |
| WTI | 2024-08-30 | [OPEC+ likely to proceed with planned output hike from October, sources say \| Reuters](https://feedsoft.ai/events/28683-opec-likely-to-proceed-with-planned-output-hike-from-october-sources-say-reuters.md) | -10.8% | -10.5% |
| WTI | 2026-03-11 | [Oil prices fall as WSJ says IEA proposes largest oil stock release ever \| Reuters](https://feedsoft.ai/events/6632-oil-prices-fall-as-wsj-says-iea-proposes-largest-oil-stock-release-ever-reuters.md) | +14.9% | +14.3% |
| WTI | 2022-03-09 | [Oil prices fall most in 2 years as UAE supports output hike \| Reuters](https://feedsoft.ai/events/5776-oil-prices-fall-most-in-2-years-as-uae-supports-output-hike-reuters.md) | -22.0% | -17.5% |
| WTI | 2024-09-26 | [OPEC+ set to go ahead with Dec oil output hike, sources say \| Reuters](https://feedsoft.ai/events/28237-opec-set-to-go-ahead-with-dec-oil-output-hike-sources-say-reuters.md) | +0.5% | +1.4% |
| DIESEL | 2026-09-30 | [Explainer-What is red-dyed diesel and can it help lower prices, as Trump wants? By Reuters](https://feedsoft.ai/events/17660-explainer-what-is-red-dyed-diesel-and-can-it-help-lower-prices-as-trump-wants.md) | -6.2% | -4.4% |
| DIESEL | 2023-10-06 | [Explainer: Russia lifts diesel export ban; what happens next?](https://feedsoft.ai/events/11715-explainer-russia-lifts-diesel-export-ban-what-happens-next.md) | +5.9% | +5.6% |
| DIESEL | 2026-03-23 | [U.S. to bring more diesel to market to address fuel prices: Wright](https://feedsoft.ai/events/20339-u-s-to-bring-more-diesel-to-market-to-address-fuel-prices-wright.md) | -2.4% | -23.4% |

## Sources

- reuters.com: https://www.reuters.com/markets/commodities/what-is-happening-with-us-gasoline-prices-2021-11-24/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.