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US refiners have run harder in 2026 as tight diesel supplies boost margins, EIA says

October 22, 2026 9:55 AM
Reuters


The US Energy Information Administration said on Thursday that US refiners have maintained higher-than-normal run rates this year, buoyed by strong margins stemming from tight global supplies of refined fuel products.

* Refinery utilization has averaged more than 95% of capacity between May and September, the highest for those months since 1998, the EIA said.

* “This year the refinery runs were driven largely by tight global supplies for distillate fuel oil, leading to high international demand for US distillate fuel oil exports,” the EIA said.

* Diesel prices have hit record highs due to a global shortage caused by the Iran war and Ukraine’s strikes on Russian refineries.

* To ramp up production, the Trump administration has been coaxing refiners to produce more diesel as prices surge.

* US refinery utilization has averaged 92% from May to September since 1991, compared with 88% across the other seven months, the EIA said.

* While refinery utilization was the highest since 1998, total US refinery output was the highest only since 2019 because refining capacity has decreased by 4% since then, the EIA said.

* US refinery utilization in the first three weeks of October decreased from its summer highs but remained above the five-year (2021–2025) seasonal average, the EIA said.

(Reporting by Siddharth Cavale in New York; Editing by Matthew Lewis)

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