The U.S. Energy Information Administration’s October 5 review found that oil and refined-fuel markets tightened during the third quarter of 2026. Brent crude futures began July at $72 a barrel, passed $100 on July 23, and peaked at $109 on September 15; Brent averaged about $104 during the quarter’s final two weeks. EIA also reported that US refineries operated at an average 95% utilization rate, processing the most crude for a third quarter since 2019. Refining margins for gasoline, diesel and jet fuel were elevated; the quarterly gasoline margin measure was more than twice its year-earlier level, while diesel and jet-fuel measures were nearly triple. As of the week ending September 25, US distillate inventories were 13% below their five-year average. This is evidence of recent global price pressure and comparatively tight US diesel supplies, not proof of a new price rise at every US pump or grocery store. How much reaches households depends on later fuel prices, distribution costs and business pass-through.