Gasoline Falls for Third Session

2026-08-26 01:14 By Kyrie Dichosa 1 min. read

US gasoline futures fell to around $3.20 per gallon, declining for a third consecutive session, after reports that Iran and Oman had discussed an interim plan to resume shipping through the Strait of Hormuz.

The proposal calls for a temporary maritime route to support vessel traffic through the key oil chokepoint, while further talks are expected to address permanent transit routes, traffic management, information sharing and maritime security.

At the same time, Washington’s latest measures targeting Iran were less aggressive than anticipated, with the US refraining from imposing secondary sanctions on Iran’s trading partners.

US refineries have now operated above 95% of capacity for more than 11 weeks, the longest sustained stretch in over 25 years, helping bolster fuel output as global supplies face disruptions.

Still, gasoline inventories remained around 5% below the five-year average, underscoring continued tightness in the fuel market.



News Stream
Gasoline Falls for Third Session
US gasoline futures fell to around $3.20 per gallon, declining for a third consecutive session, after reports that Iran and Oman had discussed an interim plan to resume shipping through the Strait of Hormuz. The proposal calls for a temporary maritime route to support vessel traffic through the key oil chokepoint, while further talks are expected to address permanent transit routes, traffic management, information sharing and maritime security. At the same time, Washington’s latest measures targeting Iran were less aggressive than anticipated, with the US refraining from imposing secondary sanctions on Iran’s trading partners. US refineries have now operated above 95% of capacity for more than 11 weeks, the longest sustained stretch in over 25 years, helping bolster fuel output as global supplies face disruptions. Still, gasoline inventories remained around 5% below the five-year average, underscoring continued tightness in the fuel market.
2026-08-26
Gasoline Holds Decline
US gasoline futures traded around $3.27 per gallon, holding onto their previous-session losses as investors weighed intensified US economic pressure on Iran. The Trump administration announced plans to impose secondary sanctions on entities facilitating Iran’s economy as part of a new campaign dubbed “Operation Economic Outcast.” Treasury Secretary Scott Bessent said the US was targeting Iran’s financial connections globally and urging other countries to cease economic ties with Tehran. Still, markets remain uncertain whether the measures will ease Iran’s control of the key waterway or instead prolong disruptions. On the demand side, China’s top refiner Sinopec reported that gasoline consumption fell 8% in the first half of 2026, as higher prices and growing electric-vehicle adoption weighed on demand. Meanwhile, US refineries have been running above 95% capacity for more than 11 weeks, the longest sustained stretch in over 25 years.
2026-08-25
Gasoline Futures Hold Steady
US gasoline futures traded near $3.25 per gallon, tracking weaker crude prices as markets awaited the announcement of US sanctions on Iran. Treasury Secretary Scott Bessent is set to outline the latest measures, while the US president has threatened sanctions against Iran’s trading partners. Despite heightened tensions, shipments through the waterway have remained robust, while demand concerns have also weighed on prices. China’s top refiner Sinopec reported that gasoline consumption fell 8% in the first half of 2026, amid increased use of electric vehicles and elevated prices amid lower refined-fuel availability. Meanwhile, tighter Canadian crude supplies could further lift refined-product prices, particularly in the US Midwest, where refiners source roughly 70% of their crude from Canada. Fuel supply concerns have also intensified after Ukrainian strikes on Russian refineries disrupted production and led to shortages in several regions.
2026-08-24