U.S. gasoline inventories fall sharply as crude stocks rise slightly

U.S. commercial crude oil inventories saw a slight increase of approximately 95,000 to 100,000 barrels for the week ending August 21, 2026, according to the Energy Information Administration (EIA). This increase was significantly lower than market expectations and previous reports from the API.

In contrast, refined product inventories experienced a sharp decline. Gasoline stocks fell by more than 2.5 million barrels, and middle distillate inventories dropped by approximately 2.2 million barrels. These decreases occurred despite high refinery utilization rates, which reached 97.4% as seasonal peaks were hit on the Gulf Coast.

Fuel prices remain a significant concern for various sectors. Diesel prices in the U.S. have reached levels approximately 53% higher than the previous year, averaging $5.62 per gallon. This surge is placing substantial financial pressure on industries such as agriculture and transportation, where fuel is a critical operating expense.