Oil Fund Up 57% YTD as WTI Crude Hits $90.90; Gas Prices Surge 16%
USO has risen 57% year-to-date, with WTI crude climbing from $66 to $90.90 per barrel since Feb. 20. Gas prices jumped 16% last week, reaching a national average of $3.45 per gallon, with a 34% probability of topping $5 by end of March.
1. United States Oil Fund Performance
The United States Oil Fund ETF has rallied 57% year-to-date, mirroring a surge in WTI crude from $66 per barrel on February 20 to $90.90 on March 8 as geopolitical tensions tightened supply expectations.
2. National Gas Price Spike
Average U.S. gasoline costs leapt 16% in a single week, rising from $2.98 to $3.45 per gallon, marking one of the sharpest weekly increases since the $5.016 record set in June 2022.
3. Outlook from Prediction Markets
Polymarket participants place a 63% chance of gas prices exceeding $4.50 per gallon and a 34% chance of exceeding $5.00 by month-end, though total betting volume remains under $40,000.
4. State-Level Price Disparities
California tops the chart at $5.159 per gallon, 50% above the national average, while Kansas sits at $2.911, 16% below; Washington, Oregon, Nevada and Hawaii also average above $4.00.