Crude Oil Summary (EIA)
U.S. crude oil refinery inputs averaged 15.8 million barrels per day during the week ending February 27, 2026, which was 180 thousand barrels per day more than the previous week’s average. Refineries operated at 89.2% of their operable capacity last week. Gasoline production increased last week, averaging 9.3 million barrels per day. Distillate fuel production increased by 61 thousand barrels per day last week, averaging 4.8 million barrels per day. U.S. crude oil imports averaged 6.3 million barrels per day last week, decreased by 335 thousand barrels per day from the previous week. Over the past four weeks, crude oil imports averaged about 6.6 million barrels per day, 10.3% more than the same four-week period last year. Total motor gasoline imports (including both finished gasoline and gasoline blending components) last week averaged 438 thousand barrels per day, and distillate fuel imports averaged 174 thousand barrels per day. U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 3.5 million barrels from the previous week. At 439.3 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 1.7 million barrels from last week and are 4% above the five year average for this time of year. Finished gasoline inventories increased last week, while blending components inventories decreased last week. Distillate fuel inventories increased by 0.4 million barrels last week and are about 3% below the five year average for this time of year. Propane/propylene inventories increased by 0.8 million barrels from last week and are 54% above the five year average for this time of year. Total commercial petroleum inventories increased by 2.9 million barrels last week. Total products supplied over the last four-week period averaged 21.0 million barrels a day, up by 4.2% from the same period last year. Over the past four weeks, motor gasoline product supplied averaged 8.5 million barrels a day, down by 0.2% from the same period last year. Distillate fuel product supplied averaged 4.2 million barrels a day over the past four weeks, up by 4.1% from the same period last year. Jet fuel product supplied was up 6.8% compared with the same four-week period last year. The price for West Texas Intermediate crude oil was $66.96 per barrel on February 27, 2026, $0.27 more than a week ago, and $3.01 less than a year ago. The New York Harbor spot price for conventional gasoline was $2.076 per gallon, $0.072 more than a week ago, and $0.151 less than the year-ago price. The spot price for No. 2 heating oil at New York Harbor was $2.538 per gallon, $0.052 more than a week ago, and $0.306 more than the price last year. The national average retail price for regular gasoline increased to $3.015 per gallon on March 2, 2026, $0.078 more than last week’s price, and $0.063 less
than the year-ago price. The national average retail diesel fuel price increased $0.088 to $3.897 per gallon, $0.262 more than the price one year ago.
