Crude Oil Summary (EIA)
U.S. crude oil refinery inputs averaged 15.7 million barrels per day during the week ending February 20, 2026, which was 416 thousand barrels per day less than the previous week’s average. Refineries operated at 88.6% of their operable capacity last week. Gasoline production decreased last week, averaging 9.2 million barrels per day. Distillate fuel production decreased by 136 thousand barrels per day last week, averaging 4.8 million barrels per day. U.S. crude oil imports averaged 6.7 million barrels per day last week, increased by 136 thousand barrels per day from the previous week. Over the past four weeks, crude oil imports averaged about 6.5 million barrels per day, 4.9% more than the same four-week period last year. Total motor gasoline imports (including both finished gasoline and gasoline blending components) last week averaged 563 thousand barrels per day, and distillate fuel imports averaged 411 thousand barrels per day. U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 16.0 million barrels from the previous week. At 435.8 million barrels, U.S. crude oil inventories are about 3% below the five year average for this time of year. Total motor gasoline inventories decreased by 1.0 million barrels from last week and are 3% above the five year average for this time of year. Finished gasoline inventories decreased last week and blending components inventories increased last week. Distillate fuel inventories increased by 0.3 million barrels last week and are about 5% below the five year average for this time of year. Propane/propylene inventories decreased by 1.7 million barrels from last week and are 46% above the five year average for this time of year. Total commercial petroleum inventories increased by 11.2 million barrels last week. Total products supplied over the last four-week period averaged 21.4 million barrels a day, up by 5.4% from the same period last year. Over the past four weeks, motor gasoline product supplied averaged 8.5 million barrels a day, up by 1.0% from the same period last year. Distillate fuel product supplied averaged 4.4 million barrels a day over the past four weeks, up by 4.0% from the same period last year. Jet fuel product supplied was up 3.2% compared with the same four-week period last year. The price for West Texas Intermediate crude oil was $66.69 per barrel on February 20, 2026, $3.64 more than a week ago, and $4.03 less than a year ago. The New York Harbor spot price for conventional gasoline was $2.004 per gallon, $0.090 more than a week ago, and $0.098 less than the year-ago price. The spot price for No. 2 heating oil at New York Harbor was $2.486 per gallon, $0.199 more than a week ago, and $0.149 more than the price last year. The national average retail price for regular gasoline increased to $2.937 per gallon on February 23, 2026, $0.013 more than last week’s price, and $0.188 less than the year-ago price. The national average retail diesel fuel price increased $0.098 to $3.809 per gallon, $0.112 more than the price one year ago.