Gasoline Snaps Three-Session Slide

2026-08-26 14:54 By Larissa Caser 1 min. read

US gasoline futures rose above $3.30 per gallon, breaking a three-session decline, as hopes of a reopening of the Strait of Hormuz were offset by tighter supply prospects.

EIA data showed US gasoline inventories fell by 2.536 million barrels in the week ending August 21st, well above expectations, leaving stocks 6% below the five-year average and underscoring continued tightness in the fuel market.

According to AAA, the average US regular gasoline price rose to $4.101 per gallon on August 26th.

Meanwhile, Ukraine continues striking major Russian refineries, pushing runs toward multiyear lows, while Moscow extended its gasoline export ban.

Offsetting some of the upward pressure, Oman and Iran reached an agreement over the use of the Strait of Hormuz, although Tehran warned that this would not lead to an immediate reopening.

Meanwhile, Saudi Arabia’s oil loadings appear to be rising sharply as shipments are being redirected due to threats from Yemen’s Houthis in the Red Sea.



News Stream
Gasoline Snaps Three-Session Slide
US gasoline futures rose above $3.30 per gallon, breaking a three-session decline, as hopes of a reopening of the Strait of Hormuz were offset by tighter supply prospects. EIA data showed US gasoline inventories fell by 2.536 million barrels in the week ending August 21st, well above expectations, leaving stocks 6% below the five-year average and underscoring continued tightness in the fuel market. According to AAA, the average US regular gasoline price rose to $4.101 per gallon on August 26th. Meanwhile, Ukraine continues striking major Russian refineries, pushing runs toward multiyear lows, while Moscow extended its gasoline export ban. Offsetting some of the upward pressure, Oman and Iran reached an agreement over the use of the Strait of Hormuz, although Tehran warned that this would not lead to an immediate reopening. Meanwhile, Saudi Arabia’s oil loadings appear to be rising sharply as shipments are being redirected due to threats from Yemen’s Houthis in the Red Sea.
2026-08-26
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