No Result
View All Result
SUBMIT YOUR ARTICLES
  • Login
Saturday, October 25, 2025
TheAdviserMagazine.com
  • Home
  • Financial Planning
    • Financial Planning
    • Personal Finance
  • Market Research
    • Business
    • Investing
    • Money
    • Economy
    • Markets
    • Stocks
    • Trading
  • 401k Plans
  • College
  • IRS & Taxes
  • Estate Plans
  • Social Security
  • Medicare
  • Legal
  • Home
  • Financial Planning
    • Financial Planning
    • Personal Finance
  • Market Research
    • Business
    • Investing
    • Money
    • Economy
    • Markets
    • Stocks
    • Trading
  • 401k Plans
  • College
  • IRS & Taxes
  • Estate Plans
  • Social Security
  • Medicare
  • Legal
No Result
View All Result
TheAdviserMagazine.com
No Result
View All Result
Home Market Research Business

High imports, soft summer demand weigh on US gasoline

by TheAdviserMagazine
3 months ago
in Business
Reading Time: 3 mins read
A A
High imports, soft summer demand weigh on US gasoline
Share on FacebookShare on TwitterShare on LInkedIn


By Nicole Jao and Shariq Khan

NEW YORK (Reuters) -U.S. gasoline prices could fall below $3 a gallon this summer for the first time in over four years as a stretch of bad weather events dampens fuel demand and a jump in imports fills inventories.

Gasoline prices have been in a lull in recent months, a boon for Americans traveling this summer. Consumers endured record prices at the pumps after Russia’s 2022 invasion of Ukraine upended energy markets.

Gasoline prices fell 8.3% over the 12-month period ended June, the latest Consumer Price Index report showed, as U.S. crude prices tumbled more than 20% amid concerns over lackluster demand and a trade war with China. Lower oil prices reduce the cost to refiners for producing motor fuels, with some of the savings typically passed on to consumers.

U.S. President Donald Trump has promised to lower fuel prices, although analysts say presidents ultimately have little influence on pump prices.

Fuel demand in the week ended July 4, typically among the periods of highest consumption, was down 2.5% from the same time last year. Analysts said the slowdown was likely due to extreme heat blanketing parts of the country, which may have discouraged some driving.

The national average price of gasoline after the Independence Day holiday dipped to $3.14 per gallon, the lowest during summer months in four years, AAA data showed. Average gas prices across the U.S. have not fallen below $3 a gallon since May 2021.

Summer is typically the peak season for gasoline consumption in the U.S., but gasoline product supplied, the U.S. Energy Information Administration’s proxy for demand, has averaged 9.2 million barrels a day over the past four weeks, down by 1% from the same period last year.

More fuel-efficient vehicles on the road and post-pandemic changes in driving patterns – particularly remote working – are expected to permanently reduce U.S. gasoline consumption from its peak of more than 9.3 million bpd in 2018.

“As we head toward August, I think gasoline will see additional weakness,” said Patrick De Haan, head of petroleum analysis at GasBuddy. “The national average has a good chance of falling below $3 per gallon in September,” he added.

That downward momentum could continue, De Haan said, as OPEC’s decision to boost crude production by a larger-than-expected 548,000 bpd in August adds more pressure to oil prices.

IMPORTS JUMP

Imported gasoline flowing into the U.S. has also caused a surge in storage demand.

Weekly U.S. gasoline imports peaked in mid-June at 100,700 bpd, the highest in over a year, government data shows, driven by an influx of shipments from Canada and Europe. Imports in June were up around 7% compared to the same period a year ago.

Story Continues

In the U.S., demand for tanks to store gasoline has climbed since March, reaching a three-year high in June, according to data from storage broker The Tank Tiger.

“If refiners are producing more gasoline, you need a place to park it if it’s not being consumed,” said Steven Barsamian, chief operating officer at The Tank Tiger.

On the U.S. East Coast, which represents nearly a third of total U.S. consumption of refined products and relies heavily on imports to meet that demand, a steady stream of shipments helped pull gasoline prices about 5 cents a gallon under the national average, according to government data.

Nigeria’s Dangote oil refinery has ramped up production of gasoline that meets U.S. standards, boosting imports, and shipments from the 320,000-bpd Irving Oil refinery in New Brunswick have also landed at the New York Harbor consistently, GasBuddy’s De Haan said.

With limited pipeline and transportation capacity, the U.S. East Coast market typically gets oversupplied quicker than other markets in the U.S., The Tank Tiger’s Barsamian said.

An increase in flows on Colonial Pipeline’s main gasoline artery, which delivers fuel from the U.S. Gulf Coast to East Coast markets, likely also contributed to larger flows of gasoline to the East Coast.

Colonial Pipeline recently informed shippers it will boost capacity on Line 1 by 5% to 7% above typical summer volumes, according to a notice seen by Reuters.

A Colonial spokesperson confirmed the pipeline volume increase.

(Reporting by Nicole Jao and Shariq Khan in New York; Editing by Liz Hampton and Nia Williams)



Source link

Tags: demandGasolineHighimportsSoftsummerweigh
ShareTweetShare
Previous Post

Episode 218. “Our childcare costs are about to quadruple. Are we screwed?” (Part 2)

Next Post

Anthropic’s transatlantic AI strategy: announces intent to sign EU’s AI Code of Practice, releases ‘Build AI in America’ report the next day

Related Posts

edit post
US dollar makes modest weekly gain after soft inflation data

US dollar makes modest weekly gain after soft inflation data

by TheAdviserMagazine
October 25, 2025
0

The U.S. dollar was almost flat on Friday after dipping following fresh inflation data that showed U.S. consumer prices increased...

edit post
Pentagon orders aircraft carrier to Latin America, boosting U.S. military buildup in the region

Pentagon orders aircraft carrier to Latin America, boosting U.S. military buildup in the region

by TheAdviserMagazine
October 24, 2025
0

The U.S. military is sending an aircraft carrier to the waters off South America, the Pentagon announced Friday, in the...

edit post
Social Security COLA 2026: payments to go up 2.8% as inflation cools

Social Security COLA 2026: payments to go up 2.8% as inflation cools

by TheAdviserMagazine
October 24, 2025
0

 The Social Security Administration’s annual cost-of-living adjustment will go up by 2.8% in 2026, translating to an average increase of...

edit post
Ontario quickly caves to Trump and promises to pull the offending Reagan ad that killed Canada trade talks

Ontario quickly caves to Trump and promises to pull the offending Reagan ad that killed Canada trade talks

by TheAdviserMagazine
October 24, 2025
0

President Donald Trump announced he’s ending “all trade negotiations” with Canada because of a television ad sponsored by one of its provinces...

edit post
Microsoft is distancing itself from longtime partner OpenAI, shunning erotica chatbots: ‘Just not a service we’re going to provide,’ AI CEO says

Microsoft is distancing itself from longtime partner OpenAI, shunning erotica chatbots: ‘Just not a service we’re going to provide,’ AI CEO says

by TheAdviserMagazine
October 24, 2025
0

Microsoft will not emulate the strategies of Elon Musk’s xAI or Sam Altman’s OpenAI in creating “simulated erotica” for its...

edit post
Former IndusInd Bank deputy pays 50% of alleged insider trading gains to Sebi

Former IndusInd Bank deputy pays 50% of alleged insider trading gains to Sebi

by TheAdviserMagazine
October 24, 2025
0

IndusInd Bank's former deputy chief has deposited 50% of the alleged insider trading gains with India's markets regulator, BSE said...

Next Post
edit post
Anthropic’s transatlantic AI strategy: announces intent to sign EU’s AI Code of Practice, releases ‘Build AI in America’ report the next day

Anthropic’s transatlantic AI strategy: announces intent to sign EU’s AI Code of Practice, releases ‘Build AI in America’ report the next day

edit post
Brussels’ Latest Destructive Project, Culling the Euro Area’s Banks, Hits a Snag

Brussels' Latest Destructive Project, Culling the Euro Area's Banks, Hits a Snag

  • Trending
  • Comments
  • Latest
edit post
77-year-old popular furniture retailer closes store locations

77-year-old popular furniture retailer closes store locations

October 18, 2025
edit post
Pennsylvania House of Representatives Rejects Update to Child Custody Laws

Pennsylvania House of Representatives Rejects Update to Child Custody Laws

October 7, 2025
edit post
What to Do When a Loved One Dies in North Carolina

What to Do When a Loved One Dies in North Carolina

October 8, 2025
edit post
Probate vs. Non-Probate Assets: What’s the Difference?

Probate vs. Non-Probate Assets: What’s the Difference?

October 17, 2025
edit post
California Attorney Pleads Guilty For Role In 2M Ponzi Scheme

California Attorney Pleads Guilty For Role In $912M Ponzi Scheme

October 15, 2025
edit post
Baby Boomers Are Flocking to This Florida Town — but Not for the Weather

Baby Boomers Are Flocking to This Florida Town — but Not for the Weather

October 9, 2025
edit post
US dollar makes modest weekly gain after soft inflation data

US dollar makes modest weekly gain after soft inflation data

0
edit post
Prospect Capital (PSEC) | Monthly Dividend Safety Analysis

Prospect Capital (PSEC) | Monthly Dividend Safety Analysis

0
edit post
Five key takeaways from Friday’s consumer price index report

Five key takeaways from Friday’s consumer price index report

0
edit post
Custodia and Vantage Deliver Tokenization Directly Inside Everyday Banking Systems

Custodia and Vantage Deliver Tokenization Directly Inside Everyday Banking Systems

0
edit post
8 Ways to Prove “Life-Changing Events” and Lower Your IRMAA Surcharge (Before It Auto-Hits)

8 Ways to Prove “Life-Changing Events” and Lower Your IRMAA Surcharge (Before It Auto-Hits)

0
edit post
Your Top October Money Questions Answered

Your Top October Money Questions Answered

0
edit post
US dollar makes modest weekly gain after soft inflation data

US dollar makes modest weekly gain after soft inflation data

October 25, 2025
edit post
Custodia and Vantage Deliver Tokenization Directly Inside Everyday Banking Systems

Custodia and Vantage Deliver Tokenization Directly Inside Everyday Banking Systems

October 25, 2025
edit post
Bank of England Probes Data Mining Lending Fueling AI Bets

Bank of England Probes Data Mining Lending Fueling AI Bets

October 24, 2025
edit post
Where We Go Next After NY Climate Week

Where We Go Next After NY Climate Week

October 24, 2025
edit post
Pentagon orders aircraft carrier to Latin America, boosting U.S. military buildup in the region

Pentagon orders aircraft carrier to Latin America, boosting U.S. military buildup in the region

October 24, 2025
edit post
Social Security COLA 2026: payments to go up 2.8% as inflation cools

Social Security COLA 2026: payments to go up 2.8% as inflation cools

October 24, 2025
The Adviser Magazine

The first and only national digital and print magazine that connects individuals, families, and businesses to Fee-Only financial advisers, accountants, attorneys and college guidance counselors.

CATEGORIES

  • 401k Plans
  • Business
  • College
  • Cryptocurrency
  • Economy
  • Estate Plans
  • Financial Planning
  • Investing
  • IRS & Taxes
  • Legal
  • Market Analysis
  • Markets
  • Medicare
  • Money
  • Personal Finance
  • Social Security
  • Startups
  • Stock Market
  • Trading

LATEST UPDATES

  • US dollar makes modest weekly gain after soft inflation data
  • Custodia and Vantage Deliver Tokenization Directly Inside Everyday Banking Systems
  • Bank of England Probes Data Mining Lending Fueling AI Bets
  • Our Great Privacy Policy
  • Terms of Use, Legal Notices & Disclosures
  • Contact us
  • About Us

© Copyright 2024 All Rights Reserved
See articles for original source and related links to external sites.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Home
  • Financial Planning
    • Financial Planning
    • Personal Finance
  • Market Research
    • Business
    • Investing
    • Money
    • Economy
    • Markets
    • Stocks
    • Trading
  • 401k Plans
  • College
  • IRS & Taxes
  • Estate Plans
  • Social Security
  • Medicare
  • Legal

© Copyright 2024 All Rights Reserved
See articles for original source and related links to external sites.