Gasoline Falls to Over 3-Month Low

2026-06-25 01:05 By Kyrie Dichosa 1 min. read

US gasoline prices extended their decline toward $2.80 per gallon in late June, revisiting their lowest level since March, amid signs that oil exports from the Middle East were resuming.

Tanker tracking data showed crude carriers moving through the Strait of Hormuz again after diplomatic progress and a preliminary agreement between the US and Iran encouraged both sides to ease restrictions.

At the same time, the US continued moving toward lifting sanctions on Iran, a step that could bring additional oil supplies to international markets and Western refiners.

Meanwhile, gasoline inventories rose by 2.064 million barrels to 216.3 million barrels in the week ending June 19, compared with expectations for a 0.6 million-barrel draw.

However, stocks remained 5% below the five-year average, indicating that supplies were still relatively tight by historical standards.

For the month, gasoline prices are on track to post a second consecutive decline.



News Stream
Gasoline Falls to Over 3-Month Low
US gasoline prices extended their decline toward $2.80 per gallon in late June, revisiting their lowest level since March, amid signs that oil exports from the Middle East were resuming. Tanker tracking data showed crude carriers moving through the Strait of Hormuz again after diplomatic progress and a preliminary agreement between the US and Iran encouraged both sides to ease restrictions. At the same time, the US continued moving toward lifting sanctions on Iran, a step that could bring additional oil supplies to international markets and Western refiners. Meanwhile, gasoline inventories rose by 2.064 million barrels to 216.3 million barrels in the week ending June 19, compared with expectations for a 0.6 million-barrel draw. However, stocks remained 5% below the five-year average, indicating that supplies were still relatively tight by historical standards. For the month, gasoline prices are on track to post a second consecutive decline.
2026-06-25
Gasoline Prices Fall Toward 3-Month Low
US gasoline prices fell toward $2.90 per gallon, moving toward three-month lows, as progress in US–Iran talks raised expectations of improved global oil supply. The US Treasury issued a 60-day license authorizing the production, shipment, and sale of Iranian oil. While both sides reported progress in early talks toward a broader agreement, inconsistencies remain, with Vice President JD Vance stating that Iran agreed to allow nuclear inspections, an assertion Tehran has disputed. Meanwhile, the US–Iran diplomacy has eased pressure on American motorists, contributing to lower fuel costs at the pump, with gasoline prices falling for a sixth straight week and down roughly 15% from their May peak. Elsewhere, US refining supply faced short-term disruptions, with TotalEnergies’ 238,000 bpd Port Arthur refinery shut after a lightning outage and Marathon’s 631,000 bpd Galveston Bay facility hit by a fire.
2026-06-23
Gasoline Prices Slip
US gasoline prices held below $3.0 per gallon in June, as markets tracked a rapidly shifting US–Iran peace talk narrative. Both sides agreed on a 60-day roadmap toward a final deal, with technical talks set to continue through the rest of the week, according to mediators Qatar and Pakistan in Switzerland. However, doubts over the viability of the agreement persisted after local media earlier reported that Iran suspended talks following President Donald Trump’s renewed threats of military action. The fast-changing developments have left markets assessing how soon oil shipping through the Strait of Hormuz could return to normal operations. A normalization of shipping would open the door to higher crude supply from the region, alongside potential adjustments in OPEC+ output policy and a gradual return of Iranian barrels to export markets, feeding into global refining supply.
2026-06-22