America Is Paying a Lot for Fuel, Not Running Out of Gasoline

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Gasoline is expensive. Diesel is worse. Social media is melting down and has apparently decided America is running out of fuel. U.S. gasoline inventories rose 800,000 barrels last week to 207.7 million barrels, according to the EIA. Stocks are 5% below the five-year average for this time of year. Tight, certainly, but hardly empty-tankish. Refineries processed 17.3 million barrels per day last week and operated at 96.8% utilization. Gasoline production increased to 9.6 million bpd. Gasoline demand averaged 8.8 million bpd over the past four weeks,…

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