And of course the price still goes up.
Check it out:
Since it became the prompt contract at the close of trading on January 31, the Nymex futures contract for March delivery of RBOB (the petroleum component of gasoline) in New York Harbor has increased 19 cents per gallon (cpg), reaching $2.82/gal on February 19 (Figure 1). Despite the recent price rise, the gasoline market remains well-supplied as the spring refinery maintenance season approaches.
Inventory trends are a handy measure to roughly gauge supply/demand dynamics in a given market. One explanation for the recent price rise is that gasoline inventories have fallen in recent weeks at a time when they typically build. After reaching 235.3 million barrels (bbl) on January 17, total U.S. gasoline inventories fell 2.2 million bbl to 233.1 million bbl on February 7; typically over this period, inventories build 3.8 million bbl