U.S. gasoline prices fell -5.0¢ WoW to $2.90 per gallon (–17.6¢ MoM; –7.3¢ YoY), marking multi-year lows heading into Christmas and extending a broad late-year decline. Diesel prices also eased -5.1¢ WoW to $3.671.

• Oil markets traded in a narrow range, with WTI rising slightly over the week from $58.91 to about $59.55, while Brent hovered near $63.22, reflecting a balance between geopolitical supply risks and softer macro sentiment.

• U.S. crude inventories rose +0.6M bbl and remain 3% below the seasonal average; SPR inventories increased +0.3M bbl to 427.5M.

• Gasoline inventories rose +4.5M bbl (about 2% below the five-year average), while distillate inventories increased +2.1M bbl (about 7% below average), showing modest rebuilding across refined products.

• Refinery utilization climbed to 94.1% (+1.8 ppts), though implied gasoline demand fell -400k bpd to 8.326M, indicating softer consumption despite lower pump prices.

• The median U.S. gas price held at $2.79, roughly 11¢ below the national average, while the most common price also fell to $2.79, pointing to broad-based declines across retail stations.

• State-level dispersion remained large: lowest averages in Oklahoma ($2.30), Colorado ($2.40), Texas ($2.42), versus highest in California ($4.41), Hawaii ($4.34), Washington ($4.04).

• Weekly price drops were steepest in Nevada (-16.3¢), Colorado (-14.8¢), and Utah (-14.6¢), underscoring regional oversupply and margin-reset dynamics.

• Diesel showed similar patterns: the median price fell to $3.59, with the cheapest states Texas ($3.10), Louisiana ($3.22), and Oklahoma ($3.23), while price leaders were Hawaii ($5.15) and California ($5.03).