US gasoline stocks are “declining fast” as the country approaches peak driving season and the 2026 FIFA World Cup.
According to industry experts at S&P Global Energy, US gasoline stocks are reaching five-year lows ahead of summer.
Eleanor Budds, research director of duels and refining research at S&P, said there are some “quite uncomfortable moments” coming up in the gasoline market at the International Air Transport Association (Iata) annual meeting in Rio de Janeiro, Brazil.
“I think the airline industry and anybody working in jet fuel aviation should be aware that we are approaching driving season in the US when there is a huge demand for gasoline, even more so this year because of the World Cup taking place,” she said.
The US is expecting more than five million international visitors, and tens of thousands of American soccer fans from coast to coast over the six-week tournament, which kicks off on 11 June.
Many football fans are likely to drive to and between matches, including those kicking off in New York, Los Angeles, Kansas City and Atlanta.
S&P added that although the US has increased its jet fuel exports from refineries to fill gaps in the market, this “isn’t sustainable”.
The country must tip some production back towards gasoline to avoid a spike in gas prices that will be unpopular with drivers, found the S&P analysis.
According to the group, it is “no surprise” that US stocks have declined as exports increase to Europe.
The UK is one of the countries most reliant on imports following the closure of two major oil refineries last year, which reduced domestic production.
Ms Budds warned that if the US cannot keep up its current volume of exports, any country that is a high importer and cannot replace its needs domestically is “still very exposed”.
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