CRUDE OIL WEEKLY UPDATE (Week Ending 08-29-25)

CRUDE OIL WEEKLY UPDATE (Week Ending 08-29-25)

U.S. crude oil refinery inputs averaged 16.9 million barrels per day during the week ending August 22, 2025, which was 328 thousand barrels per day less than the previous week’s average. Refineries operated at 94.6% of their operable capacity last week. Gasoline production increased last week, averaging 10 million barrels per day. Distillate fuel production decreased by 112 thousand barrels per day last week, averaging 5.2 million barrels per day. U.S. crude oil imports averaged 6.2 million barrels per day last week, decreased by 263 thousand barrels per day from the previous week. Over the past four weeks, crude oil imports averaged about 6.4 million barrels per day, 0.4% less than the same four-week period last year. Total motor gasoline imports (including both finished gasoline and gasoline blending components) last week averaged 767 thousand barrels per day, and distillate fuel imports averaged 141 thousand barrels per day. U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by 2.4 million barrels from the previous week. At 418.3 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 1.2 million barrels from last week and are at 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 1.8 million barrels last week and are about 15% below the five year average for this time of year. Propane/propylene inventories increased by 1.7 million barrels from last week and are 13% above the five year average for this time of year. Total commercial petroleum inventories decreased by 4.4 million barrels last week. Total products supplied over the last four-week period averaged 21.2 million barrels a day, up by 2.5% from the same period last year. Over the past four weeks, motor gasoline product supplied averaged 9 million barrels a day, down by 1.1% from the same period last year. Distillate fuel product supplied averaged 3.9 million barrels a day over the past four weeks, up by 7.7% from the same period last year. Jet fuel product supplied was up 1.7% compared with the same four-week period last year. The price for West Texas Intermediate crude oil was $64.08 per barrel on August 22, 2025, $0.3 more than a week ago, and $11.74 less than a year ago. The New York Harbor spot price for conventional gasoline was $2.168 per gallon, $0.08 more than a week ago, and $0.133 less than the year-ago price. The spot price for No. 2 heating oil at New York Harbor was $2.214 per gallon, $0.081 more than a week ago, and $0.081 more than the price last year. The national average retail price for regular gasoline increased to $3.147 per gallon on August 25, 2025, $0.022 more than last week’s price, and $0.166 less than the year-ago price. The national average retail diesel fuel price decreased $0.005 to $3.708 per gallon, $0.057 more than the price one year ago.

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