Gasoline Prices Steady

2026-05-26 02:44 By Kyrie Dichosa 1 min. read

Gasoline futures for delivery in New York Harbor steadied around $3.30 per gallon, following a more than 4% decline in the previous session, as markets assessed the viability of peace efforts in the US–Iran conflict.

Reports indicated that the US military carried out a self-defense strike in Iran, following President Donald Trump’s push for an interim deal between Tehran and Washington that includes provisions to reopen the Strait of Hormuz.

Energy markets have been highly volatile since the war broke out in early March.

Disruptions to oil and refined product flows have also accelerated the drawdown in global inventories at a record pace, according to the IEA.

Meanwhile, US gasoline inventories fell for a 14th straight week in mid-May, as refineries operated near full capacity using SPR feedstock.

Output was also adjusted as refiners shifted yields toward distillates in an effort to mitigate tightening supplies of diesel and jet fuel.



News Stream
Gasoline Prices Steady
Gasoline futures for delivery in New York Harbor steadied around $3.30 per gallon, following a more than 4% decline in the previous session, as markets assessed the viability of peace efforts in the US–Iran conflict. Reports indicated that the US military carried out a self-defense strike in Iran, following President Donald Trump’s push for an interim deal between Tehran and Washington that includes provisions to reopen the Strait of Hormuz. Energy markets have been highly volatile since the war broke out in early March. Disruptions to oil and refined product flows have also accelerated the drawdown in global inventories at a record pace, according to the IEA. Meanwhile, US gasoline inventories fell for a 14th straight week in mid-May, as refineries operated near full capacity using SPR feedstock. Output was also adjusted as refiners shifted yields toward distillates in an effort to mitigate tightening supplies of diesel and jet fuel.
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Gasoline Futures Hit 4-Week Low
Gasoline futures for delivery in New York Harbor declined to around $3.30 per gallon, the lowest in over four weeks, as optimism over US and Iran reaching a deal eased concerns about deeper disruptions to global energy supplies. President Trump said talks with Iran were progressing constructively, though he stressed that the US would not rush a deal. He added that the reopening of the Strait of Hormuz was largely agreed and could be announced soon, but the US blockade would remain in place until negotiations are finalized. Energy exports from the region have been largely halted since early March, driving global oil inventories down at a record pace, according to the IEA. Meanwhile, US gasoline inventories fell for a 14th straight week in mid-May as refineries ran near full capacity using SPR feedstock. Output was also curtailed as refiners shifted production toward distillates to help prevent diesel and jet fuel shortages.
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