Midwest Gasoline Stockpiles Hit Record Low of 41 Million Barrels

Midwest gasoline stockpiles fell to a record low of 41 million barrels, according to data released Wednesday by the Energy Information Administration. The 1.2 million barrel decline from the previous week occurred as retail prices climbed across the Great Lakes region, driven by a price spike in Chicago and production losses at a Cenovus Energy refinery in Ohio due to routine maintenance and technical problems.

While national inventories rose to 209.2 million barrels, the Midwest remains susceptible to further price volatility because of these limited reserves. The regional supply crunch coincides with upcoming Senate elections in Iowa, Minnesota, Nebraska, Michigan, and Ohio.

Gasoline costs have remained a central political issue throughout 2026. The national average reached a late-year record of $4.286 per gallon following a war involving the United States, Israel, and Iran, which disrupted the movement of crude oil and reduced global refining capacity.