Gasoline prices could fall to $2 with stock drops, Mike McGlone notes

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Anastasiia Chabaniuk

06.07.2026

Gasoline prices could fall to $2 with stock drops, Mike McGlone notes — Stock drop could press gas to $2

Mike McGlone points out that a modest decline in stock prices could create pressure for U.S. gasoline prices to approach $2. He highlights a two-decade pattern where the daily national average gasoline price and the S&P 500 trend in a correlated manner against the 100-week moving average.

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McGlone has previously flagged oil market shifts, noting crude's decline toward $40 per barrel while gold approached $3,400 in recent trade here. He also outlined that crude oil prices may need to reach $40 to address growing supply surpluses in the U.S. and Canada here. These updates follow his latest view on the correlation between equity and gasoline prices.

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