The price of crude oil futures are settling had $73.21. That’s down $0.65 or -0.88%. The settled price is below the 200 day moving average at $73.68. The last time the price closed below its 200 day moving average was back in late January.
On increased momentum to the downside, the traders will be looking toward gapped low on March 2 after the February 28 invasion of Iran. That level came in at $69.20. The closing level on Friday, February 27, was at $67.04 will also be a target.
The closing level from end of year 2025 was down at $57.40.
For perspective:
- February 27, 2026 (pre-war): $2.98/gallon
- March 16, 2026: $3.72/gallon (+25% from Feb. 27)
- March 26, 2026: $3.98/gallon (+$1.00 in one month)
- May 21, 2026 peak: $4.56/gallon
- June 18, 2026: $3.999/gallon after the Iran ceasefire/MOU and reopening of the Strait of Hormuz.
- June 23, 2026: $3.92 /gallon
A look back:
- End of 2025: AAA national average price for a gallon of regular gasoline was $2.89 per gallon
- Trump’s First term: January 20, 2017 –$2.31 per gallon. AAA reported the national average at $2.31 during the week of the inauguration
- Trump’s Second term: January 20, 2025-$3.11 per gallon. Multiple reports citing AAA data put the national average at $3.109-$3.125 per gallon on Inauguration Day
