Gasoline (XB1) Down $0.07 Over Past 4 Hours, 5 Day Down Streak Ended; in a Downtrend Over Past 14 Days

Gasoline 4 Hour Price Update

Updated September 10, 2020 12:50 AM GMT (08:50 PM EST)

Gasoline came into the current 4 hour candle down 5.76% ($0.07) from the open of the previous 4 hours, marking the 5th consecutive candle a decrease has occurred. Relative to other instruments in the energy commodity asset class, Gasoline ranked 4th since the previous 4 hours in terms of percentage price change.

Gasoline Daily Price Recap

Gasoline’s 5 day negative streak has officially concluded, as the candle from the previous day closed up 2.03% ($0.02). Relative to other instruments in the energy commodity asset class, Gasoline ranked 3rd since the previous day in terms of percentage price change. Here is a daily price chart of Gasoline.

XB1

Gasoline Technical Analysis

Coming into today Gasoline is now close to its 100 day moving averages, which may act as price barrier for the asset. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving down. Or to view things another way, note that out of the past 14 days Gasoline’s price has gone down 9 them.

Overheard on Twitter

Over on Twitter, here were the top tweets about Gasoline:

  • From Gobanimo2:

    @Trafigura #Somaliland, a very poor country, has the highest gasoline price in world $4/US gallon. In contrast, the price of unleaded gasoline in US is $2. I would welcome #trafigura coming to Somaliland if it would help bring down the cost of fuel, which is hampering local development.

  • From Here2eternitiOG:

    @FrakerMonica Gasoline price now in Dallas, average 2.00. When the COVID downplaying was going on and Abbott opened up TX, it was 1.25. Cornyn is funded by BigOil, got them a bailout and they lowered the price to get people exposed. 😡

  • From andrewgeorge54:

    @GasPriceWizard Dan
    Bit of gasoline price gouging out there? WTI Oil is now at $36 and gas at the pumps is where it was when WTI was $60.


“Energy Ellen” is the collective pseudonym used by several writers who contribute to our energy commentary who are passionate about the intersection of energy, economics, and investing. Follow Energy Ellen on social media: Instagram