Gasoline Holds Near Four-Month High

2026-09-24 11:28 By Larissa Caser 1 min. read

US gasoline futures held near $3.60 a gallon, remaining at its highest levels since May 19th, amid prospects of tightening fuel markets while optimism of US-Iran diplomatic talks weakened.

Meanwhile, Energy Secretary Wright has warned the oil industry to brace for possible curbs on US diesel exports, a debate also backed by the US President despite broader growing opposition.

Amid an already tight fuel market, a ban on diesel shipments would prompt US refiners to cut crude runs about 12%, according to S&P Global Energy CERA, reducing fuel availability.

As winter approaches and heating demand rises, refiners are shifting output toward higher-priced diesel, tightening gasoline markets.

US gasoline inventories unexpectedly declined by 1.7 million barrels in the week ending September 18th, according to EIA.

Additionally, persistent Ukrainian attacks on Russian refining infrastructure also contributed to elevated prices, with Russia set to extend its diesel export ban beyond September.



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Gasoline Holds Near Four-Month High
US gasoline futures held near $3.60 a gallon, remaining at its highest levels since May 19th, amid prospects of tightening fuel markets while optimism of US-Iran diplomatic talks weakened. Meanwhile, Energy Secretary Wright has warned the oil industry to brace for possible curbs on US diesel exports, a debate also backed by the US President despite broader growing opposition. Amid an already tight fuel market, a ban on diesel shipments would prompt US refiners to cut crude runs about 12%, according to S&P Global Energy CERA, reducing fuel availability. As winter approaches and heating demand rises, refiners are shifting output toward higher-priced diesel, tightening gasoline markets. US gasoline inventories unexpectedly declined by 1.7 million barrels in the week ending September 18th, according to EIA. Additionally, persistent Ukrainian attacks on Russian refining infrastructure also contributed to elevated prices, with Russia set to extend its diesel export ban beyond September.
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