US oil and gasoline stocks fall again as gas hits $4.28 a gallon

In the week to 16 October US crude stocks fell by 3.1 million barrels, when markets expected a drop of just 0.1 million.

Evento: 21 de octubre de 2026
Fuente primaria: 21 de octubre de 2026
Publicado aquí: 21 de octubre de 2026 a las 17:20 UTC
Leer: 2 min

Qué pasó

The US Energy Information Administration (EIA) reported on the week to 16 October. Commercial crude stocks fell 3.1 million barrels to 412.5 million, 3% below the five-year average. Gasoline fell 3 million barrels, and all petroleum stocks together fell 8.5 million.

Por qué te importa

Markets expected crude stocks to drop by just 0.1 million barrels. When fuel leaves storage faster than it comes in, prices find it hard to fall. Pricey gas keeps inflation high and makes Fed rate cuts harder. US gasoline is about $4.28 a gallon, up from $3.04 a year ago.

Qué revisar y vigilar

The next EIA report is due 28 October. Watch whether gasoline and diesel stocks keep falling before winter. Diesel and heating oil stocks are already 9% below normal for this time of year.

EIA report

What the report showed. Every Wednesday the EIA publishes how much oil and fuel sits in US storage. In the week to 16 October, commercial crude stocks, excluding the strategic reserve, fell 3.1 million barrels to 412.5 million. That is 3% below the five-year average. The week before, the drop was even bigger at 8.6 million barrels.

Fuel. Gasoline stocks fell 3 million barrels and are 5% below normal. Distillates, meaning diesel and heating oil, rose 1.7 million barrels but are still 9% below the five-year average. In total, commercial crude and product stocks fell 8.5 million barrels in a week.

Demand. Over the past four weeks the US used an average of 21.1 million barrels a day, 3.2% more than a year ago. Gasoline use was 8.7 million barrels a day, up 1.5%. Diesel was 3.9 million, down 2.4%. Refineries ran at 93.4% of capacity. Crude imports fell to 5.8 million barrels a day for the week.

For your wallet. AAA data cited by OilPrice.com put US gasoline at about $4.28 a gallon, against $3.04 a year earlier. Expensive fuel is already changing carmakers' plans: GM says it will add hybrids to its lineup.

Hechos confirmados

In the week to 16 October 2026, US commercial crude stocks fell 3.1 million barrels to 412.5 million, 3% below the five-year average.^[1]^[2]
Gasoline stocks fell 3.0 million barrels and are 5% below the five-year average.^[1]
Distillate stocks rose 1.7 million barrels but are 9% below the five-year average.^[1]
Total commercial petroleum stocks fell 8.5 million barrels for the week.^[1]
Markets expected a 0.1 million barrel drop in crude stocks; the week before they fell 8.557 million.^[3]
Over four weeks, total product supplied averaged 21.1 million barrels a day, up 3.2% from a year earlier. Refineries ran at 93.4% of capacity.^[1]
US gasoline costs about $4.28 a gallon, up from $3.04 a year earlier (AAA data).^[4]
The next EIA report is due on 28 October 2026.^[2]

Implicaciones

ConfirmadoUS crude, gasoline and diesel stocks are below normal for the season.
Nuestra lecturaLow stocks make it harder for fuel prices to fall before winter.
Nuestra lecturaExpensive gasoline supports US inflation and could delay Fed rate cuts.