Crude Oil Summary (EIA)
U.S. crude oil refinery inputs averaged 15.6 million barrels per day during the week ending March 28, 2025, which was 192 thousand barrels per day less than the previous week’s average. Refineries operated at 86.0% of their operable capacity last week. Gasoline production increased last week, averaging 9.3 million barrels per day. Distillate fuel production increased last week, averaging 4.7 million barrels per day. U.S. crude oil imports averaged 6.5 million barrels per day last week, increased by 271 thousand barrels per day from the previous week. Over the past four weeks, crude oil imports averaged about 5.9 million barrels per day, 6.3% less than the same four-week period last year. Total motor gasoline imports (including both finished gasoline and gasoline blending components) last week averaged 748 thousand barrels per day, and distillate fuel imports averaged 149 thousand barrels per day. U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 6.2 million barrels from the previous week. At 439.8 million barrels, U.S. crude oil inventories are about 4% below the five year average for this time of year. Total motor gasoline inventories decreased by 1.6 million barrels from last week and are 2% above the five year average for this time of year. Finished gasoline inventories increased and blending components inventories decreased last week. Distillate fuel inventories increased by 0.3 million barrels last week and are about 6% below the five year average for this time of year. Propane/propylene inventories increasedby 1.0 million barrels from last week and are 8% below the five year average for this time of year. Total commercial petroleum inventories increased by 5.4 million barrels last week. Total products supplied over the last four-week period averaged 20.1 million barrels a day, down by 1.2% from the same period last year. Over the past four weeks, motor gasoline product supplied averaged 8.8 million barrels a day, down by 1.9% from the same period last year. Distillate fuel product supplied averaged 3.8 million barrels a day over the past four weeks, up by 3.7% from the same period last year. Jet fuel product supplied was up 4.2% compared with the same four-week period last year. The price for West Texas Intermediate crude oil was $69.74 per barrel on March 28, 2025, $1.22 more than a week ago. The New York Harbor spot price for conventional gasoline increased to $2.043 per gallon, $0.035 more than a week ago. The spot price for No. 2 heating oil at New York Harbor increased $0.010 to $2.165 per gallon. The national average retail price for regular gasoline increased to $3.162 per gallon on March 31, 2025, $0.047 above last week’s price, and $0.355 less than the year-ago price. The national average retail diesel fuel price increased $0.025 to $3.592 per gallon, $0.404 lower than the price one year ago.
