US gasoline prices breach $5/gal level EIA forecasts maximum summer refinery utilization Russian diesel shortages have knock-on impact on gasoline With average US gasoline prices breaking the $5/gal level in early June, refiners are working hard to meet rising post-coronavirus demand from drivers seemingly undeterred by high pump prices. Receive daily email alerts, subscriber notes & personalize your experience. Register Now “Pent-up travel demand in North America will support oil consumption despite mounting pressure from high retail prices and eroded consumer purchasing power from high inflation,” according to Platts Analytics. And GasBuddy, which tracks real-time gasoline prices at over 150,000 North American stations, noted that the national average for gasoline reached $5/gal June 9, with drivers in 17 states paying over that already. With about 1 million b/d less of refinery capacity and indications of strong summer driving demand ahead following the US Memorial Day weekend, US retail […]