Crude Oil Summary (EIA)
U.S. crude oil refinery inputs averaged 16.0 million barrels per day during the week ending May 1, 2026, which was 42 thousand barrels per day less than the previous week’s average. Refineries operated at 90.1% of their operable capacity last week. Gasoline production decreased last week, averaging 9.6 million barrels per day. Distillate fuel production decreased, averaging 4.9 million barrels per day. U.S. crude oil imports averaged 5.5 million barrels per day last week, decreased by 273 thousand barrels per day from the previous week. Over the past four weeks, crude oil imports averaged about 5.6 million barrels per day, 2.4% less than the same four-week period last year. Total motor gasoline imports (including both finished gasoline and gasoline blending components) last week averaged 755 thousand barrels per day, and distillate fuel imports averaged 123 thousand barrels per day. U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by 2.3 million barrels from the previous week. At 457.2 million barrels, U.S. crude oil inventories are about 1% above the five-year average for this time of year. Total motor gasoline inventories decreased by 2.5 million barrels from last week and are 4% below the fiveyear average for this time of year. Finished gasoline inventories increased, while blending component inventories decreased last week. Distillate fuel inventories decreased by 1.3 million barrels last week and are about 11% below the five-year average for this time of year. Propane/propylene inventories decreased by 1.3 million barrels from last week and are 56% above the five-year average for this time of year. Total commercial petroleum inventories decreased by 5.9 million barrels last week. Total products supplied over the last four-week period averaged 20.3 million barrels per day, up by 2.6% from the same period last year. Over the past four weeks, motor gasoline product supplied averaged 9.0 million barrels per day, up by 1.0% from the same period last year. Distillate fuel product supplied averaged 3.8 million barrels per day over the past four weeks, up by 3.5% from the same period last year. Jet fuel product supplied was down 6.2% compared with the same four-week period last year. The price for West Texas Intermediate crude oil was $105.38 per barrel on May 1, 2026, $6.96 more than a week ago, and $45.71 more than a year ago. The New York Harbor spot price for conventional gasoline was $3.630 per gallon, $0.096 more than a week ago, and $1.780 more than the year-ago price. The spot price for No. 2 heating oil at New York Harbor was $3.871 per gallon, same as a week ago, and $1.964 more than the price last year. The national average retail price for regular gasoline increased to $4.452 per gallon on May 4, 2026, $0.329 more than last week’s price, and $1.305 more than the year-ago price. The national average retail diesel fuel price increased $0.289 to $5.640 per gallon, $2.143 more than the price one year ago.
