The CME Group is a derivatives marketplace offering information on RBOB gasoline futures prices, according to the company’s website. RBOB stands for reformulated blendstock for oxygenate blending, which is the standard for gasoline futures trading in New York.
The CME Group specializes in offering benchmark products for several asset classes, including gasoline futures prices, states the company. Information on RBOB gasoline futures include the current strike price for each contract, the month when the contract matures, and the last settlement price. The information also includes the current volume for each contract and the high/low limit. RBOB gasoline futures contracts trade under the symbol RB on the New York Mercantile Exchange or the Chicago Mercantile Exchange.
As of 2015, a single futures contract of RBOB gasoline is for 42,000 U.S. gallons of unleaded gasoline, reports CommodityHQ.com. Several factors affect RBOB gasoline prices, including crude oil prices, demand and production. When demand for unleaded gasoline increases while gas-producing companies such as ExxonMobil and Chevron cut production, RBOB gasoline prices increase. Companies such as Chevron and ExxonMobil produce gasoline from crude oil, and fluctuations in the price of a barrel of crude oil affect the price of RBOB gasoline. Demand for gasoline in the United States also drives RBOB prices, since the country consumes the most gasoline in the world.