New York, February 11, 2026, 12:44 PM EST — Regular session.
- U.S. benchmark gasoline futures rose as crude climbed on renewed Middle East risk.
- U.S. gasoline inventories increased last week, keeping supply fears in check.
- Refiners’ shares gained as traders weighed the next inflation and inventory signals.
U.S. gasoline futures rose on Wednesday, with RBOB gasoline — the benchmark wholesale contract — up 1.3% at about $1.985 a gallon. (Investing)
That matters because gasoline is one of the quickest prices to filter into what drivers see, and it can move inflation expectations fast. Traders also watch it as a read on U.S. demand and refinery margins, especially this time of year when winter demand can be choppy.
The price action is pulling in two directions. Geopolitics has lifted crude, but U.S. supplies still look comfortable, and that usually caps rallies in fuel.
The U.S. Energy Information Administration reported total motor gasoline inventories rose by 1.2 million barrels last week and were about 4% above the five-year average for this time of year. U.S. crude inventories increased by 8.5 million barrels to 428.8 million barrels, while distillate inventories fell by 2.7 million barrels. (EIA Information Releases)
AAA’s daily tracker put the national average for regular gasoline at $2.937 a gallon on Wednesday, up 1.6 cents from Tuesday and about 20 cents below a year ago. Pump prices were about 5 cents higher than a week ago, AAA data showed. (AAA Fuel Prices)
Refiner stocks moved higher in midday trade. Valero Energy rose about 2.1%, Marathon Petroleum gained roughly 2.2% and Phillips 66 added about 2.5%.
Crude’s jump did some of the work. Brent and U.S. crude were up nearly 2% on Wednesday as investors focused on rising tension between Iran and the United States, even as a large U.S. crude stock build tempered the move, Reuters reported. “Tension in the Middle East continue to support prices,” UBS analyst Giovanni Staunovo said, while Mizuho’s Robert Yawger pointed to supply, saying “domestic production came back with a vengeance.” (Reuters)
A day earlier, traders were already signaling caution before the government data. Analysts at Gelber & Associates said the market was “hesitant to press either direction” without clearer direction from diplomacy and inventory data, Reuters reported, while PVM’s Tamas Varga warned prices could sag “unless there are concrete signs of supply disruptions.” (Reuters)
But the gasoline market has its own downside. Big inventories and patchy winter demand can turn a crude-led rally into a short squeeze that fades fast, particularly if refinery output picks up and supply keeps building.
Next up is macro and data. Traders will watch the U.S. consumer price index for January due on Friday, Feb. 13, at 8:30 a.m. Eastern, and next week’s EIA petroleum report for another check on gasoline stockpiles and demand. (Bls)
