Gasoline Rises to 2-Month High

2026-07-20 00:47 By Kyrie Dichosa 1 min. read

Gasoline futures in the US climbed above $3.40 per gallon, reaching their highest level since May 22, as escalating conflict in the Middle East heightened concerns over disruptions to global refined fuel supplies.

Iran declared the ceasefire with the US effectively over as both sides expanded attacks beyond military targets to critical infrastructure, dimming hopes for a return to the fragile truce.

Meanwhile, Ukrainian strikes on Russian energy infrastructure continued to disrupt refinery operations.

Refiners in the US and other regions also shifted production toward higher-margin diesel and jet fuel, reducing gasoline output.

EIA data showed gasoline inventories fell by 1.5 million barrels in the week ended July 10, leaving stockpiles about 14 million barrels below their five-year seasonal average and at their lowest level for this time of year since 2012.

US gasoline crack spread to its highest level since June 2022, while retail gasoline prices climbed back above $4 per gallon.



News Stream
Gasoline Rises to 2-Month High
Gasoline futures in the US climbed above $3.40 per gallon, reaching their highest level since May 22, as escalating conflict in the Middle East heightened concerns over disruptions to global refined fuel supplies. Iran declared the ceasefire with the US effectively over as both sides expanded attacks beyond military targets to critical infrastructure, dimming hopes for a return to the fragile truce. Meanwhile, Ukrainian strikes on Russian energy infrastructure continued to disrupt refinery operations. Refiners in the US and other regions also shifted production toward higher-margin diesel and jet fuel, reducing gasoline output. EIA data showed gasoline inventories fell by 1.5 million barrels in the week ended July 10, leaving stockpiles about 14 million barrels below their five-year seasonal average and at their lowest level for this time of year since 2012. US gasoline crack spread to its highest level since June 2022, while retail gasoline prices climbed back above $4 per gallon.
2026-07-20
Gasoline Holds Near 2-Month High
Gasoline futures in the US rose above $3.30 per gallon, remaining close to their highest level since late May, driven by growing concerns over global refined fuel supplies. The collapse of the US-Iran truce and renewed tanker attacks in the Strait of Hormuz heightened fears of disruptions to fuel shipments from the Persian Gulf. Additionally, Ukrainian strikes on Russia's energy infrastructure continued to hamper operations at major refineries. US and global refiners also reduced gasoline output in favor of higher-margin diesel and jet fuel production, while strong overseas demand pushed US fuel exports to record highs. EIA data showed gasoline inventories fell by 1.5 million barrels in the week ending July 10, leaving stockpiles about 14 million barrels below their five-year seasonal average and at their lowest level for this time of year since 2012. The US gasoline crack spread climbed to about $59 per barrel, its highest level since June 2022.
2026-07-17
Gasoline Remains Near 7-Week High
US gasoline prices held near $3.30 per gallon, remaining near its highest level since late May, supported by growing concerns over global supply disruptions. US forces carried out new strikes against Iranian targets and reinstated a naval blockade on Iranian shipping in the Strait of Hormuz. President Donald Trump threatened additional attacks if Tehran does not return to negotiations, while also stepping back from a proposed 20% fee on shipments passing through the waterway. The developments further amplified supply concerns from ongoing disruptions to Russian refining capacity. Data from Energy Aspects showed Russian gasoline production falling to around 65% of seasonal consumption levels after Ukrainian drone attacks disrupted operations at major gasoline refineries, including NORSI and Omsk. Meanwhile, EIA data showed US gasoline inventories declined by 1.533 million barrels in the week ending July 10.
2026-07-15