Gasoline

Gasoline Meaning:
In commodity market terminology, Gasoline refers to a liquid derived from petroleum and largely used as an engine fuel and solvent. In most commonwealth countries, Gasoline is referred to as petrol, and the United States alone consumes almost 500 billion liters of the commodity per year.

Gasoline Example:
Gasoline futures trade on the New York Mercantile Exchange (NYMEX) under the symbol RB and in a 42,000-gallon contract size. Gasoline futures also trade on the Tokyo Commodities Exchange (TOCOM) where the contract size is 50 kiloliters or 13,210 gallons.