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Energy Détente Current Issues    
Issue DateTitleSubjectsCAPTION
Jun 23 2026
Global Gasoline Price Hike Arrested
WORLD AVERAGE PRICE $4.65
Retail Prices




Between January and May, the world average gasoline price rocketed $1.19 gallon higher due to supply disruptions brought on by the Iran War. The temporary partial reopening of the Strait of Hormuz and a potential peace deal have allowed price relief in June.
Mar 25 2026
Iran War Powering
U.S. REFINING MARGIN SPIKE
Refining

Margins


U.S. refiner margin increased 11% on average in 2025 to $32.68 per barrel. Meanwhile, refining capacity continues to decline with nearly 800,000 barrels per day lost since 2019. California has recently lost two plants and the timing could not have been worse for motorists. Margins have spiked much higher in 2026 due to the Iran war.
 

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