26.08.202514:38:53UTC+00Gasoline Retreat from Monthly High

U.S. gasoline futures have declined below $2.14 per gallon, following a retreat from the monthly high of $2.165 recorded on August 21st. This decrease is driven by lower crude oil feedstock costs, increased refinery output, and an improving supply situation amidst softer demand. The recent easing of geopolitical tensions has led to falling oil prices, reducing refinery margins and easing the pressure on gasoline prices. According to the EIA data up to August 15th, inventories fell by 2.72 million barrels for the sixth consecutive week, but there are signs that stock levels are beginning to recover from their seasonal troughs. Additionally, greater refinery utilization has enhanced gasoline production, helping to alleviate supply constraints. Meanwhile, demand is weakening as the summer driving season concludes, and higher imports have increased supply, limiting the potential for sustained price increases.