Crude Oil Summary (EIA)
U.S. crude oil refinery inputs averaged 16.6 million barrels per day during the week ending March 20, 2026, which was 366 thousand barrels per day more than the previous week’s average. Refineries operated at 92.9% of their operable capacity last week. Gasoline production increased last week, averaging 9.7 million barrels per day. Distillate fuel production increased by 158 thousand barrels per day last week, averaging 5.0 million barrels per day. U.S. crude oil imports averaged 6.5 million barrels per day last week, decreased by 730 thousand barrels per day from the previous week. Over the past four weeks, crude oil imports averaged about 6.6 million barrels per day, 15.5% more than the same four-week period last year. Total motor gasoline imports (including both finished gasoline and gasoline blending components) last week averaged 443 thousand barrels per day, and distillate fuel imports averaged 155 thousand barrels per day. U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 6.9 million barrels from the previous week. At 456.2 million barrels, U.S. crude oil inventories are about 0.1% above the five year average for this time of year. total motor gasoline inventories decreased by 2.6 million barrels from last week and are 3% above the five year average for this time of year. Both finished gasoline and blending components inventories decreased last week. Distillate fuel inventories increased by 3.0 million barrels last week and are about 0.4% below the five year average for this time of year. Propane/propylene inventories increased by 0.5 million barrels from last week and are 59% above the five year average for this time of year. Total commercial petroleum inventories increased by 8.3 million barrels last week. Total products supplied over the last four-week period averaged 20.7 million barrels per day, up by 2.4% from the same period last year. Over the past four weeks, motor gasoline product supplied averaged 8.8 million barrels per day, down by 0.9% from the same period last year. Distillate fuel product supplied averaged 3.9 million barrels per day over the past four weeks, up by 1.3% from the same period last year. Jet fuel product supplied was down 2.8% compared with the same four-week period last year. The price for West Texas Intermediate crude oil was $98.71 per barrel on March 20, 2026, $0.23 more than a week ago, and $30.19 more than a year ago. The New York Harbor spot price for conventional gasoline was $3.303 per gallon, $0.242 more than a week ago, and $1.295 more than the year-ago price. The spot price for No. 2 heating oil at New York Harbor was $4.564 per gallon, $0.662 more than a week ago, and $2.409 more than the price last year. The national average retail price for regular gasoline increased to $3.961 per gallon on March 23, 2026, $0.241 more than last week’s price, and $0.846 more than the year-ago price. The national average retail diesel fuel price increased $0.304 to $5.375 per gallon, $1.808 more than the price one year ago.
