Crude Oil Summary (EIA)

U.S. crude oil refinery inputs averaged 17.4 million barrels per day during the week ending August 14, 2026, which was 215 thousand barrels per day more than the previous week’s average. Refineries operated at 97.2% of their operable capacity last week. Gasoline production increased last week, averaging 9.7 million barrels per day. Distillate fuel production decreased, averaging 5.2 million barrels per day. U.S. crude oil imports averaged 6.6 million barrels per day last week, decreased by 746 thousand barrels per day from the previous week. Over the past four weeks, crude oil imports averaged about 6.5 million barrels per day, 1.2% more than the same four-week period last year. Total motor gasoline imports (including both finished gasoline and gasoline blending components) last week averaged 366 thousand barrels per day, and distillate fuel imports averaged 109 thousand barrels per day. U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 4.4 million barrels from the previous week. At 428.8 million barrels, U.S. crude oil inventories are matching the five year average for this time of year. Total motor gasoline inventories increased by 0.7 million barrels last week and are 5% below the five-year average for this time of year. Finished gasoline inventories increased, while blending component inventories decreased last week. Distillate fuel inventories decreased by 1.5 million barrels last week and are about 13% below the fiveyear average for this time of year. Propane/propylene inventories increased by 2.0 million barrels from last week and are 31% above the five-year average for this time of year. Total commercial petroleum inventories increased by 8.8 million barrels last week. Total products supplied over the last four-week period averaged 20.5 million barrels per day, down by 2.9% from the same period last year. Over the past four weeks, motor gasoline product supplied averaged 8.9 million barrels per day, down by 0.9% from the same period last year. Distillate fuel product supplied averaged 3.7 million barrels per day over the past four weeks, down by 0.8% from the same period last year. Jet fuel product supplied was down 6.3% compared with the same four-week period last year. The price for West Texas Intermediate crude oil was $83.99 per barrel on August 14, 2026, $4.22 more than a week ago, and $20.21 more than a year ago. The New York Harbor spot price for conventional gasoline was 3.192 per gallon, $0.222 more than a week ago, and $1.104 more than the year-ago price. The spot price for No. 2 heating oil at New York Harbor was $4.172 per gallon, $0.397 more than a week ago, and $2.039 more than the price last year. The national average retail price for regular gasoline increased to $4.049 per gallon on August 17, 2026, $0.043 more than last week’s price, and $0.924 more than the year-ago price. The national average retail diesel fuel price increased $0.197 to $5.454 per gallon, $1.741 more than the price one year ago.