U.S. Refineries Make Dramatic Shift Away From Gasoline
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refineries are producing a smaller share of gasoline from every barrel of crude oil they process and shifting production efforts toward diesel and jet fuel as soaring margins on those products reshape the economics of American refining.
Gasoline yields averaged below 45% during the first eight months of 2026, falling below the previous five-year low in every month, according todatapublished Thursday by the U.S.
That's a significant departure for a refining industry that typically produces 45 to 50 barrels of gasoline for every 100 barrels of crude processed.
And even though gasoline prices are elevated, diesel and jet fuel are considerably more profitable to produce as global fuel shortages drive refining margins higher.
Distillate fuel oil yields, which include diesel and heating oil, exceeded their five-year average in every month through August.
Jet fuel production has undergone an even more pronounced shift.
refinery output exceeded 12% for the first time on record.
It remained at or above that level through August, the latest month for which EIA data is available.
The changes reflect an increasingly strained global refining market.
The Iran war has disrupted Middle Eastern refining operations, while Ukrainianattacks on Russian refinerieshave further restricted supplies of diesel and other petroleum products.
Global refinery crude runs dropped by 4.8 million barrels per day in the second quarter, according to EIA data released earlier this week.
| Product | Price | Change |
|---|---|---|
| Brent Crude | $102.14/bbl | +0.34% |
| WTI Crude | $96.90/bbl | +0.21% |
| EN590 Diesel | $846/MT | +0.18% |
| Jet Fuel A-1 | $1090/MT | +0.55% |
| Mazut M100 | $450/MT | -0.15% |
| Bitumen 60/70 | $470/MT | +0.08% |
| Sulphur Gran 99.5% | $470/MT | -0.44% |
| Urea 46% Gran | $650/MT | +1.12% |
| NPK 16-16-16 | $460/MT | -0.28% |
| Nat Gas TTF | $15.42/MMBtu | +0.92% |
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