The price signal
EIA reported a national average of $4.07 per gallon for regular gasoline on the Monday before Labor Day. Regional averages varied: the Midwest was $3.85, the East Coast $3.94, the Gulf Coast $3.62, the Rocky Mountains $4.27, and the West Coast $5.21.
Why refinery margins are elevated
The agency says gasoline crack spreads—a measure of the difference between wholesale gasoline and crude-oil prices—have stayed unusually high since May. It attributes the pressure mainly to tight global gasoline supplies caused by disruptions to refining activity in Russia, China, and the Middle East.
Imports and inventories
Since March, total U.S. gasoline imports, including finished gasoline and blending components, were 32% below the 2021–2025 average. In the week ending August 28, gasoline inventories were 6% below their five-year average. Reduced imports raised costs and increased demand for U.S. exports.
Why it matters—and what remains uncertain
Higher gasoline costs hit commuting, household budgets, deliveries, and businesses that depend on transportation. Confirmed: EIA's regional averages and supply indicators show elevated pressure before Labor Day. Uncertain: station prices can change daily and vary by location, and the agency's week-ending September 5 component estimate used data available through September 3.
Sources
Read the original material behind this signal.
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