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Easing US Pump Prices Draw More Drivers to the Road, for Now

  • Gasoline futures shift to most bullish structure in five years
  • Lower prices alone not enough to sustain fuel-demand recovery
A vehicle gets fuel at a gas station in Louisville, Kentucky.

A vehicle gets fuel at a gas station in Louisville, Kentucky.

Photographer: Luke Sharrett/Bloomberg
Updated on

Bullish gasoline futures could curtail the relief drivers are feeling at the pump -- just as Americans are finally hitting the road after an unusually slow summer.

Gasoline futures in New York shifted into the most bullish structure in nearly five years on Wednesday, threatening to slow a recent decline in pump prices. The move comes after weekly gasoline demand jumped by 8.5% last week, snapping several weeks of below-pandemic-level consumption.