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Released June 30, 2025 | SUGAR LAND
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Written by Daniel Graeber for Industrial Info Resources (Sugar Land, Texas)--In the run-up to the Fourth of July Independence Day holiday in the United States, and amid concerns about the economic future, data show consumer demand for gasoline is on the rise.
A protectionist trade policy from President Donald Trump is creating economic headwinds as import duties lead to price hikes for consumers and businesses alike. In its June 18 estimate for growth in gross domestic product, the Federal Reserve Bank of Atlanta lowered its forecast from 3.5% to 3.4% for the second quarter. But at least in terms of holiday plans, travel club AAA finds the U.S. consumer is largely unfazed.
AAA estimates 61.6 million people will hit the roads for this coming July 4 holiday weekend, a 2.2% increase from last year. Would-be travelers may have already prepared too, according to federal data.
The Energy Information Administration (EIA), the U.S. Department of Energy's data cruncher, showed the total amount of refined petroleum products delivered over the four-week period to June 20, a proxy for demand, was down 1.6% from year-ago levels. But for just gasoline, the amount of product supplied, 9.1 million barrels per day (BBL/d), was up 0.2% from the same period last year.
Retail prices, meanwhile, appeared stable. For Friday, AAA put the average retail price at $3.22 for a gallon of regular unleaded gasoline, two cents more than last week, but 27 cents less than this time last year.
Prices threatened to jump in the midst of the conflict between Iran and Israel, with maritime chokepoints under threat and refineries on both sides of the fighting hit by missiles. Crude oil prices had been suppressed for much of the year due to economic concerns, but saw a hefty risk premium during the height of the conflict.
Flirting earlier with $80 per barrel during the fighting, the price for Brent crude oil, the global benchmark, was closer to $66 per barrel on Friday. The price of oil accounts for about half of what consumers see at the pump.
Much of the spring refinery maintenance season is over too, though the downstream sector is not without its issues. IIR Energy issued an alert to clients on June 12 advising of an unplanned outage at the Borger refinery in Texas. Operated by Phillips 66 (Houston, Texas), some 68,000 barrels per day (BBL/d) may be curtailed through the weekend. Subscribers to Industrial Info's Global Market Intelligence (GMI) Petroleum Refinery Plant Database can click here for the plant profile.
Otherwise, the nation's refinery system seems healthy. California may be dealing with a loss of refinery capacity, though refiners are making the mandated-special blend of California gas elsewhere in the region.
New grassroot refineries are unlikely to come onstream anytime soon, but expansions could offset some retirements. Among the projects monitored by Industrial Info, Marathon Petroleum Corporation (Findlay, Ohio) is planning for expansions at its refinery in Garyville, Louisiana. Expansions at two crude units would expand the refinery's capacity by around 30,000 BBL/d to 595,000 BBL/d, with completion expected by 2027.
Subscribers to Industrial Info's Global Market Intelligence (GMI) Petroleum Refining Project and Plant databases can click here for a detailed project report and click here for the plant profile.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 Trillion (USD).
A protectionist trade policy from President Donald Trump is creating economic headwinds as import duties lead to price hikes for consumers and businesses alike. In its June 18 estimate for growth in gross domestic product, the Federal Reserve Bank of Atlanta lowered its forecast from 3.5% to 3.4% for the second quarter. But at least in terms of holiday plans, travel club AAA finds the U.S. consumer is largely unfazed.
AAA estimates 61.6 million people will hit the roads for this coming July 4 holiday weekend, a 2.2% increase from last year. Would-be travelers may have already prepared too, according to federal data.
The Energy Information Administration (EIA), the U.S. Department of Energy's data cruncher, showed the total amount of refined petroleum products delivered over the four-week period to June 20, a proxy for demand, was down 1.6% from year-ago levels. But for just gasoline, the amount of product supplied, 9.1 million barrels per day (BBL/d), was up 0.2% from the same period last year.
Retail prices, meanwhile, appeared stable. For Friday, AAA put the average retail price at $3.22 for a gallon of regular unleaded gasoline, two cents more than last week, but 27 cents less than this time last year.
Prices threatened to jump in the midst of the conflict between Iran and Israel, with maritime chokepoints under threat and refineries on both sides of the fighting hit by missiles. Crude oil prices had been suppressed for much of the year due to economic concerns, but saw a hefty risk premium during the height of the conflict.
Flirting earlier with $80 per barrel during the fighting, the price for Brent crude oil, the global benchmark, was closer to $66 per barrel on Friday. The price of oil accounts for about half of what consumers see at the pump.
Much of the spring refinery maintenance season is over too, though the downstream sector is not without its issues. IIR Energy issued an alert to clients on June 12 advising of an unplanned outage at the Borger refinery in Texas. Operated by Phillips 66 (Houston, Texas), some 68,000 barrels per day (BBL/d) may be curtailed through the weekend. Subscribers to Industrial Info's Global Market Intelligence (GMI) Petroleum Refinery Plant Database can click here for the plant profile.
Otherwise, the nation's refinery system seems healthy. California may be dealing with a loss of refinery capacity, though refiners are making the mandated-special blend of California gas elsewhere in the region.
New grassroot refineries are unlikely to come onstream anytime soon, but expansions could offset some retirements. Among the projects monitored by Industrial Info, Marathon Petroleum Corporation (Findlay, Ohio) is planning for expansions at its refinery in Garyville, Louisiana. Expansions at two crude units would expand the refinery's capacity by around 30,000 BBL/d to 595,000 BBL/d, with completion expected by 2027.
Subscribers to Industrial Info's Global Market Intelligence (GMI) Petroleum Refining Project and Plant databases can click here for a detailed project report and click here for the plant profile.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 Trillion (USD).
