US Gasoline Prices Hit $4.44 as Diesel Stocks Lag Averages
U.S. gasoline prices reached $4.44 per gallon, marking a $1.20 increase from last year despite rising inventories.
U.S. gasoline prices reached $4.44 per gallon on Thursday. This represents a 16-cent weekly increase and a $1.20 jump from a year ago. Diesel prices hit a record high of $6.40 per gallon. Social media narratives claim the United States is facing a fuel shortage. This claim is not supported by federal inventory data.
The Energy Information Administration reported a stock build of 800,000 barrels last week. Total gasoline inventories now stand at 207.7 million barrels. This level is 5% below the five-year seasonal average. Refineries processed 17.3 million barrels per day at a 96.8% utilization rate. Gasoline production increased to 9.6 million barrels per day.
Diesel Supply Constraints Drive Regional Spikes
Diesel inventories are 13% below their five-year average. Russian refinery capacity has decreased due to drone strikes. Russia has also restricted diesel exports. Middle Eastern exports remain impaired by regional conflict. These factors reduce global supply. Regional prices in the Great Lakes reflect these pressures.
Retail diesel prices in Michigan reached $6.65 per gallon. Ohio prices stood at $6.53 per gallon. Indiana recorded $6.49 per gallon and Illinois $6.46 per gallon. Analysts predict Michigan and neighboring states may approach $7 per gallon. This regional spike sits within a broader global diesel deficit.
Market Data Contradicts Panic Narratives
Gasoline demand averaged 8.8 million barrels per day over the past four weeks. This figure is 1% lower than the same period last year. Crude oil inventories are 1% above their five-year average. WTI crude prices remain above $100 per barrel. Analysts from GN auto markets/energy: gasoline prices confirm the data. Viral posts claiming widespread station dry-ups are false.
The current market presents a high-cost environment. It is not a supply collapse. Panic buying could create artificial shortages. Consumers may rush to fill tanks to avoid perceived price spikes. This behavior could strain local logistics. The fundamental supply chain remains functional.
