gasoline investment & finance definition

A commodity product derived from crude oil; it is the largest refined product sold in the U.S. and accounts for about half of national oil consumption. Futures and options contracts on gasoline are traded on the New York Mercantile Exchange based on New York harbor unleaded gasoline, a particular type of gasoline. The futures contracts are based on delivery at petroleum products terminals in the New York harbor, which is the major East Coast trading center that handles much of the imported and domestic shipments. Trading also occurs on other futures exchanges throughout the world.