U.S. crude oil refinery inputs averaged 16.4 million barrels per day during the week ending May 9, 2025, which was 330 thousand barrels per day more than the previous week’s average. Refineries operated at 90.2% of their operable capacity last week. Gasoline production decreased last week, averaging 9.4 million barrels per day. Distillate fuel production decreased by 69 thousand barrels per day last week, averaging 4.6 million barrels per day. U.S. crude oil imports averaged 5.8 million barrels per day last week, decreased by 214 thousand barrels per day from the previous week. Over the past four weeks, crude oil imports averaged about 5.7 million barrels per day, 14.8% less than the same four-week period last year. Total motor gasoline imports (including both finished gasoline and gasoline blending components) last week averaged 822 thousand barrels per day, and distillate fuel imports averaged 179 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 441.8 million barrels, U.S. crude oil inventories are about 6% below the five year average for this time of year. Total motor gasoline inventories decreased by 1 million barrels from last week and are about 3% below the five year average for this time of year. Finished gasoline inventories increased and blending components inventories decreased last week. Distillate fuel inventories decreased by 3.2 million barrels last week and are about 16% below the five year average for this time of year. Propane/propylene inventories increased by 2.2 million barrels from last week and are 9% below the five year average for this time of year. Total commercial petroleum inventories increased by 4.9 million barrels last week. Total products supplied over the last four-week period averaged 19.9 million barrels a day, down by 1.2% from the same period last year. Over the past four weeks, motor gasoline product supplied averaged 9 million barrels a day, up by 3.8% from the same period last year. Distillate fuel product supplied averaged 3.7 million barrels a day over the past four weeks, up by 1.4% from the same period last year. Jet fuel product supplied was up 6.4% compared with the same four-week period last year. The price for West Texas Intermediate crude oil was $62.37 per barrel on May 9, 2025, $2.77 more than a week ago, and $17.44 less than a year ago. The New York Harbor spot price for conventional gasoline was $1.985 per gallon, $0.135 more than a week ago, and $0.536 less than the year-ago price. The spot price for No. 2 heating oil at New York Harbor was $1.973 per gallon, $0.066 more than a week ago, and $0.346 less than the price last year. The national average retail price for regular gasoline decreased to $3.120 per gallon on May 12, 2025, $0.027 less last week’s price, and $0.488 less than the year-ago price. The national average retail diesel fuel price decreased $0.021 to $3.476 per gallon, $0.372 lower than the price one year ago.
CRUDE OIL WEEKLY UPDATE (Week Ending 05-16-25)
- Crude Oil, Natural Gas & Crude Oil Weekly Update
- Published on
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