Both gasoline and distillate spot prices in the Northeast spot markets lost more than 25cts across the board as Nymex futures dropped with early morning word of possible talks to end the conflict in Iran.
Prompt barge and Buckeye 13.5-lb. RVP RBOB and CBOB were both marked at 24.50cts beneath the April Nymex, unchanged from Friday's average. That left outright prices to move down with futures, losing 28.71cts to $2.7541/gal at 10:15 a.m. ET. That brings prices back beneath the $3/gal mark breached on Friday, but still stands more than 20cts above week-ago marks and well above the $2.05/gal marks seen before the conflict began.
Lower RVPs in the region followed suit, with 7.4-lb. RVP RBOB marked even to futures for April while 7.8-lb. RVP CBOB was even to the prior session at a 2.50ct discount. Both products' prices fell just under 28.75cts to $2.9991/gal and $2.9741/gal, respectively.
Offline Colonial Pipeline gasoline products dropped sharply too, with prices following futures with trading values stable though the first hour or so of trading.
The 11.5-lb. RVP RBOB moved to Cycle 16 to start the session, but trading levels so far remained moored to Friday's 16ct discount. Regular gasoline (11.5-lb. RVP) also moved to Cycle 16 Monday but stood unchanged at 5.75cts beneath April Nymex contracts. Outright prices for both products were down 28.71cts to $2.8391/gal for RBOB and $2.9416/gal for regular gasoline.
Prompt CBOB was already in Cycle 16 and so far also saw trading values stable at 20cts beneath April RBOB Nymex contracts. Cash prices slid 28.71cts to $2.7991/gal.
Distillate losses were even greater, with losses topping 40cts by midmorning.
Prompt ULSD for barge and Buckeye was marked at 3cts under the Nymex, even to Friday's average. Prompt Cycle 16 ULSD was pegged at 2cts under the Nymex, also flat to the prior session. Both saw prices down 40.60cts to $4.1724/gal and $4.1824/gal, respectively. Just one week ago, ULSD in the northeast was about $3.75-3.80/gal, with values in the $2.60s before the conflict began.
Ultra-low-sulfur heating oil also saw huge drops in price. Barge and Buckeye ULSHO was pegged at 25.50cts under the Nymex, even to Friday, while freshly-prompt Cycle 16 ULSD for offline Colonial Pipeline delivery was marked at 25cts under futures--a half-cent off Friday's average. Both products saw prices drop more than 40cts, though, to $3.9474/gal and $3.5924/gal.
Jet fuel across the region was also seeing big drops, although a wide trading range on Friday put current trading values of 25cts above April futures, some 6.25cts over the prior session. That did cut into the Nymex losses, but prices still dropped 34.35cts to $4.4524/gal. Jet fuel prices a week ago were $3.85/gal and in the $2.50s before the Middle East turmoil surfaced.
This content was created by Oil Price Information Service, which is operated by Dow Jones & Co. OPIS is run independently from Dow Jones Newswires and The Wall Street Journal.
Reporting by Cory Wilchek, cwilchek@opisnet.com; Editing by Reagan Pritchard, rcoleman@opisnet.com
(END) Dow Jones Newswires
March 23, 2026 10:36 ET (14:36 GMT)
Copyright (c) 2026 Dow Jones & Company, Inc.
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