According to the latest figures released by the Energy Information Administration (EIA), U.S. gasoline stocks have climbed to a near five-year high, underscoring a notable buildup in fuel supplies. The week ending January 16 saw gasoline inventories increase by roughly 5.98 million barrels, reaching a total of 256.99 million barrels, a volume not recorded since February 2021.
This expansion in gasoline supplies coincided with a marked decrease in fuel consumption. The measure commonly used to approximate gasoline demand, known as product supplied, fell by 1.78 million barrels per day (bpd) to stand at 21.01 million bpd. This is the lowest consumption level recorded since January 2023.
Looking at the four-week average for gasoline consumption, a similar downward trend was observed, with a reduction of 109,000 bpd bringing it to 19.98 million bpd. This level represents the minimum gasoline demand seen since January 2024.
Beyond gasoline, the EIA report detailed an increase in distillate fuel inventories across various regions. National distillate stockpiles rose to their largest quantity since January 2024. The East Coast region's distillate supplies have now reached peaks unseen since January 2025, while the Gulf Coast’s distillate holdings have climbed to heights last achieved in August 2021.