Midwest gasoline supplies hit lowest on record

Commercial gas supplies declined to 41 million barrels after falling by 1.2 million barrels last week October 28, 2026 1:15 PM, EDT A driver refuels at a gas station in Royal Oak, Mich. (Emily Elconin/Bloomberg) Key Takeaways: Midwest gasoline stockpiles fell 1.2 million barrels last week to a record-low 41 million barrels, Energy Department data released Oct.

28 showed. Tight supplies and refinery disruptions drove Great Lakes pump prices higher, with Michigan gasoline averaging $4.69 a gallon and Ohio around $4.30. Wholesale prices have retreated and Cenovus Energy’s Ohio refinery appears near restarting, but low inventories leave the region vulnerable to renewed price increases.

Gasoline stockpiles in the Midwest have fallen to an all-time low, raising the threat of persistently high pump prices in the region just days away from a handful of crucial Senate elections. Commercial gasoline supplies declined to 41 million barrels — the lowest on record — after falling by 1.2 million barrels last week, according to U.S.

Department of Energy data released Oct. 28. READ MORE: Gasoline price average under Trump surpasses Biden era Retail pump prices in the Great Lakes recently soared after a surge in wholesale gasoline blendstock prices in Chicago, the regional benchmark.

Production concerns weighed on the benchmark: an issue at a refinery crimped some output, while another facility owned by Cenovus Energy Inc. in Ohio is offline for regular maintenance. In Michigan, prices averaged $4.69 a gallon on Oct. 28, according to GasBuddy, down from highs of around $4.80 a gallon.

In Ohio, prices stood around $4.30, also down slightly from last week. Both states have Senate elections Nov. 3 that will be critical for deciding the balance of Congress’s upper chamber, along with Iowa, Minnesota and Nebraska.

"Gasoline Stockpiles in Midwest Hit All-Time Low, Threatening Higher Pump Prices" https://t.co/nh97ZvmhLl https://t.co/oSAKiFVG2s — Scott Lincicome (@scottlincicome) October 28, 2026 Further relief may be on the way in spite of the tight supply picture. Chicago wholesale gasoline blendstock prices have fallen significantly, down to $3.09 a gallon from more than $4 a gallon.

Meanwhile, Cenovus’s refinery in Ohio appears close to starting back up. But stockpiles this low mean that any further flare-up might trigger similarly sharp price increases, with little spare fuel on the regional market. And even if no issues emerge, the tight market offers something of a floor to prices.