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US Gasoline Prices Rise on Higher Crude, Refining Margins, EIA Says

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Higher crude prices and elevated refining margins are pushing US gasoline costs higher, with regional prices reaching $5.21 per gallon on the West Coast, the US Energy Information Administration said Friday.

Gasoline crack spreads in New York Harbor have averaged about $1/gal above 2025 levels since May, when the measure peaked at about $0.60/gal.

Global refining disruptions in Russia, China and the Middle East have tightened gasoline supplies, raising import costs and increasing demand for US gasoline exports, the EIA said.

Since March, US gasoline imports, including finished fuel and blending components, have averaged 32% below the 2021-2025 five-year average, while Gulf Coast shipments have partly offset the decline.

Distillate and jet fuel crack spreads have risen further as overseas refineries, which normally produce larger volumes of those fuels, have been disrupted, prompting US refiners to shift output toward them.

Since March, the New York Harbor distillate fuel oil crack spread has averaged 74 cents/gal above the gasoline crack spread.

For the week ended Aug. 28, US distillate inventories stood 14% below the five-year average, while gasoline inventories remained 6% below average, the EIA said.

On the Monday before Labor Day, US gasoline prices averaged $4.07/gal, with the Midwest at $3.85/gal, East Coast at $3.94/gal and Gulf Coast at $3.62/gal.

West Coast gasoline averaged $5.21/gal, while Rocky Mountain prices reached $4.27/gal, reflecting regional differences in supply, demand and fuel taxes, according to EIA.

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