Gasoline Hits 4-week High

Gasoline increased to 3.36 USD/Gal, the highest since July 2026. Over the past 4 weeks, Gasoline lost 1.68%, and in the last 12 months, it increased 55.6%.

US gasoline futures rose to around $3.33 per gallon, after holding near $3.25 on Thursday, as traders awaited details of a US campaign to isolate Iran’s economy. President Donald Trump announced plans for an economic package to intensify pressure on Iran, potentially involving China, the largest buyer of Iranian crude. Fuel supply concerns were also heightened as Ukrainian strikes on Russian refineries strained fuel availability, prompting shortages in several regions. Meanwhile, a Canadian supply squeeze has left US Midwest refineries vulnerable, as they rely on Canadian crude for around 70% of their supply. US crude imports from Canada fell the most since May last week, according to the EIA. US gasoline refining margins have surged 86% since the start of the conflict, while average regular gasoline prices remained above $4 per gallon in most US regions. Still, the EPA is set to end summer gasoline blend requirements early to help ease pump prices, which averaged $4.10 on August 20th.

US gasoline futures fell to around $3.20 per gallon, retreating from a three-week high as traders weighed uncertainty surrounding the Strait of Hormuz against an unexpected build in domestic inventories. EIA data showed US gasoline stocks increased by 0.688 million barrels in the week ending August 14, missing expectations for a 1.2 million-barrel draw. Inventories are now 5% below their seasonal average, narrowing from 6% the previous week. US Energy Secretary Chris Wright said he would work with refiners to boost fuel production and ease prices, noting that refiners are operating at record levels. Still, fading hopes of a reopening of the Strait of Hormuz pushed oil prices higher. Trump said no talks were underway and announced a new package of measures aimed at putting further pressure on Iran’s economy. Tehran also said a US naval blockade remained in place. Tanker traffic remained subdued, with limited flows still passing through the strategic route as shipowners stayed cautious.