U.S. commercial crude oil inventories, excluding those in the Strategic Petroleum Reserve (SPR), increased by three million barrels from the week ending August 1 to the week ending August 8, the U.S. Energy Information Administration (EIA) highlighted in its latest weekly petroleum status report.
That report was released on August 13 and included data for the week ending August 8. It showed that crude oil stocks, not including the SPR, stood at 426.7 million barrels on August 8, 423.7 million barrels on August 1, and 430.7 million barrels on August 9, 2024. Crude oil in the SPR stood at 403.2 million barrels on August 8, 403.0 million barrels on August 1, and 376.5 million barrels on August 9, 2024, the report revealed.
Total petroleum stocks – including crude oil, total motor gasoline, fuel ethanol, kerosene type jet fuel, distillate fuel oil, residual fuel oil, propane/propylene, and other oils – stood at 1.670 billion barrels on August 8, the report highlighted. Total petroleum stocks were up 7.7 million barrels week on week and up 6.9 million barrels year on year, the report showed.
“At 426.7 million barrels, U.S. crude oil inventories are about six percent below the five year average for this time of year,” the EIA said in its latest weekly petroleum status report.
“Total motor gasoline inventories decreased by 0.8 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,” it added.
“Distillate fuel inventories increased by 0.7 million barrels last week and are about 15 percent below the five year average for this time of year. Propane/propylene inventories increased by 3.9 million barrels from last week and are 11 percent above the five year average for this time of year,” the EIA continued.
U.S. crude oil refinery inputs averaged 17.2 million barrels per day during the week ending August 8, according to the report, which pointed out that this was 56,000 barrels per day more than the previous week’s average.
“Refineries operated at 96.4 percent of their operable capacity last week,” the EIA said in its report.
“Gasoline production increased last week, averaging 9.8 million barrels per day. Distillate fuel production increased by 32,000 barrels per day last week, averaging 5.1 million barrels per day,” it added.
U.S. crude oil imports averaged 6.9 million barrels per day last week, the report noted. It highlighted that this was an increase of 958,000 barrels per day from the previous week.
“Over the past four weeks, crude oil imports averaged about 6.2 million barrels per day, 5.1 percent less than the same four week period last year,” the EIA said in its report.
“Total motor gasoline imports (including both finished gasoline and gasoline blending components) last week averaged 632,000 barrels per day, and distillate fuel imports averaged 107,000 barrels per day,” the EIA added.
Total products supplied over the last four-week period averaged 21.2 million barrels a day, up by 2.9 percent from the same period last year, the EIA stated in its report.
“Over the past four weeks, motor gasoline product supplied averaged nine million barrels a day, down by 1.5 percent from the same period last year,” the EIA noted.
“Distillate fuel product supplied averaged 3.6 million barrels a day over the past four weeks, down by 1.6 percent from the same period last year. Jet fuel product supplied was up 4.3 percent compared with the same four-week period last year,” it added.
The EIA also said in its report that the national average retail price for regular gasoline increased to $3.118 per gallon on August 11, 2025, “$0.022 less than last week’s price, and $0.296 less than the year-ago price”.
“The national average retail diesel fuel price decreased $0.046 to $3.754 per gallon, $0.05 more than the price one year ago,” the EIA added.
According to the AAA Fuel Prices website, the average U.S. regular gasoline price is $3.160 per gallon and the average U.S. diesel price is $3.715 per gallon, as of August 14.
In an oil and gas report sent to Rigzone by the Macquarie team late Monday, Macquarie strategists, including Walt Chancellor, revealed that they were forecasting that U.S. crude inventories would be up by 2.0 million barrels for the week ending August 8.
“This follows a 3.0 million barrel draw in the prior week, with the crude balance realizing tighter than our expectations,” the strategists said in the report.
To contact the author, email andreas.exarheas@rigzone.com
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