US gasoline prices rise to $3.37 as supply disruptions intensify

  • US gasoline prices rose as pipeline, shipping and refinery disruptions intensified.
  • 1.3 million barrels were added to inventories, which remained 5% below the five-year average.
  • AAA reported a $4.30 national regular gasoline average on September 11.

US gasoline prices rose to around $3.37 per gallon, approaching a seven-week high as supply disruptions intensified across oil infrastructure and shipping routes. Saudi Arabia’s closure of its East-West oil pipeline added to attacks on energy facilities and disruptions through the Strait of Hormuz, raising concerns about crude availability and refinery feedstock. Shipping through the Bab el-Mandeb Strait is also being constrained by disruptions along Yemen’s Red Sea coast, while attacks on Russian refineries are increasing risks to global refined-product supplies. U.S. Energy Information Administration data showed gasoline inventories increased by 1.3 million barrels in the week ended September 4, but remained 5% below the five-year average. Fuel production declined even as U.S. refineries operated near full capacity, limiting their ability to raise output while strong refining margins encouraged maximum production. AAA said national regular gasoline averaged $4.30 per gallon on September 11.

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