US Gasoline Rises to Two-Week High

2026-09-07 12:53 By Larissa Caser 1 min. read

US gasoline futures traded above $3.21 a gallon, extending gains to a two-week high as tensions remained elevated in the Strait of Hormuz amid strikes on vessels transiting near the waterway.

Adding to the pressure, tensions between Russia and Ukraine show no sign of waning, despite the meeting between Ukraine and US envoys, as energy infrastructure continues to be targeted.

As global refining capacity remains constrained, US refiners are largely out of capacity to boost further production, reflected in continued drawdowns in recent weeks as EIA data showed US gasoline inventories fell 1.173 million barrels in the week ending August 28th.

Still, US Energy Secretary Wright stated that supply-side solutions were preferred to support energy flows, while other officials denied that a potential export ban was under consideration, adding that the end of the summer driving season could weaken gasoline demand, while changes to fuel-blending requirements could help boost production.



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US Gasoline Rises to Two-Week High
US gasoline futures traded above $3.21 a gallon, extending gains to a two-week high as tensions remained elevated in the Strait of Hormuz amid strikes on vessels transiting near the waterway. Adding to the pressure, tensions between Russia and Ukraine show no sign of waning, despite the meeting between Ukraine and US envoys, as energy infrastructure continues to be targeted. As global refining capacity remains constrained, US refiners are largely out of capacity to boost further production, reflected in continued drawdowns in recent weeks as EIA data showed US gasoline inventories fell 1.173 million barrels in the week ending August 28th. Still, US Energy Secretary Wright stated that supply-side solutions were preferred to support energy flows, while other officials denied that a potential export ban was under consideration, adding that the end of the summer driving season could weaken gasoline demand, while changes to fuel-blending requirements could help boost production.
2026-09-07
Gasoline Extends Gains
US gasoline futures traded near $3.20 a gallon, holding their recent gains amid tightening fuel supplies. Elevated tensions between the US and Iran continue to provide upward pressure, threatening further disruptions to production and supply. Adding to the pressure, persistent attacks from Ukraine in Russian refineries pushed runs to multi-year lows. Meanwhile, EIA data showed US gasoline inventories fell 1.173 million barrels in the week ending August 28th, reflecting continued drawdowns in recent weeks while US refiners are largely out of capacity to boost further production, with facilities in Midwest operating at over 103% capacity and some delaying maintenance to keep production elevated. On September 4th, the US national average regular gasoline edged higher to $4.15 a gallon, its highest price ever for September, according to AAA. Last week, President Trump met with fuel refiners in an effort to bring down gasoline prices, although no measures were announced.
2026-09-04
Gasoline Futures Rebound
US gasoline futures traded around $3.12 a gallon, rebounding from recent losses, as Middle East tensions escalated following US strikes on Iran and renewed Israeli threats against Tehran, raising concerns over further energy supply disruptions. Meanwhile, the national average regular gasoline price in the US climbed to $4.14 on September 3rd, according to AAA, while EIA data showed US gasoline inventories fell 1.173 million barrels in the week ending August 28th, reflecting continued draw backs in recent weeks while US refiners are operating at 98%, its highest level since August 2018, with several facilities delaying maintenance to keep production elevated. Heavy driving over the Labor Day weekend is also providing support. Adding to the pressure, Ukrainian strikes on Russian refining infrastructure pushed refinery runs to multi-year lows. Meanwhile, President Trump pressed refiners to boost domestic production of gasoline during a meeting earlier in the week.
2026-09-03