# U.S. refinery utilization | PIER20 benchmarks How hard are U.S. refineries running relative to their five-year seasonal norm? This page shows U.S. percent utilization of refinery operable capacity (EIA series WPULEUS3). Each week is compared to the same week in the five full years before that week. The chart shows the five-year seasonal average only. It does not show a min or max range. A reading above the five-year average is high for the season. A reading below is low for the season. Utilization peaks in the summer driving season, falls into the spring and autumn maintenance windows, and dips for winter storms. This is a seasonal gauge. It is not a price forecast. As of **31 July 2026**, the latest readings are Refinery utilization at **96.50 Percent** and Five-year average at **93.07 Percent**. The Refinery utilization line is down 0.4 pp over the past year and above its long-run median of 90.30 Percent. ## Summary statistics (full history) | Series | First | Latest | Min | Max | |---|---|---|---|---| | Refinery utilization | 84.00 | 96.50 | 56.00 | 100.50 | | Five-year average | | 93.07 | 81.33 | 96.97 | ## Last 24 readings | Date | Refinery utilization | Five-year average | |---|---|---| | 20 Feb 2026 | 88.60 | 81.33 | | 27 Feb 2026 | 89.20 | 82.71 | | 6 Mar 2026 | 90.80 | 85.27 | | 13 Mar 2026 | 91.40 | 87.07 | | 20 Mar 2026 | 92.90 | 87.91 | | 27 Mar 2026 | 92.10 | 88.13 | | 3 Apr 2026 | 92.00 | 88.09 | | 10 Apr 2026 | 89.60 | 88.29 | | 17 Apr 2026 | 89.10 | 88.45 | | 24 Apr 2026 | 89.60 | 88.66 | | 1 May 2026 | 90.10 | 89.13 | | 8 May 2026 | 91.70 | 89.97 | | 15 May 2026 | 91.60 | 90.93 | | 22 May 2026 | 94.50 | 92.22 | | 29 May 2026 | 94.70 | 93.22 | | 5 Jun 2026 | 95.30 | 93.69 | | 12 Jun 2026 | 96.70 | 93.49 | | 19 Jun 2026 | 96.10 | 93.28 | | 26 Jun 2026 | 96.60 | 93.58 | | 3 Jul 2026 | 95.80 | 93.58 | | 10 Jul 2026 | 96.20 | 93.42 | | 17 Jul 2026 | 96.10 | 92.75 | | 24 Jul 2026 | 97.20 | 92.77 | | 31 Jul 2026 | 96.50 | 93.07 | ## How to read this benchmark **What a high or low reading means.** Utilization is the refinery fleet's workload as a percentage of operable capacity. The industry's gauge of how much product supply the system can push out. A reading at the top of the band means refineries are at or near maximum run rates, leaving little spare product capacity: strong crack spreads but fragile supply. A reading below the band means capacity is idle or offline, which tightens product supply even when crude is abundant. **Why the five-year same-week average as the comparator.** Energy series move with the calendar year. A raw level cannot say if the market is tight or slack. This page ranks each week against the same week in the five full years before it. A July reading is judged against prior Julys, not against the full year. The baseline uses only earlier years. The current year never enters its own baseline. The rule allows one week of tolerance when holidays shift the report week. **How the seasonal lines are built.** For each date, the reference is the same EIA week number (plus or minus one week) in the five full calendar years before it. Each reference year adds one value (the mean of its tolerated observations). The five-year average uses those yearly values. This page plots the average only. The average line starts once a five-year window exists and rolls forward. **Limitations.** The five-year average moves as history rolls forward. Source revisions can move history. Refinery utilization is one input to the market balance. Prices also move on the weekly surprise versus expectations, not on the level alone. Treat the chart as context for supply and demand conditions, not investment advice. ## How this benchmark is used **The spare-capacity gauge.** Refining capacity is the binding constraint on product supply, and utilization is its dial: since the 2021-22 capacity retirements, the fleet has run near the top of its historical band, and every percentage point above the seasonal norm is product supply with no spare capacity behind it. Crack-spread traders watch this page for exactly that headroom. **Same-week seasonal average.** This page uses a same-week rule over five full prior years. It allows one week of tolerance. The current year is excluded. It plots the seasonal average only. Compare the reading to the average line, not to a min or max range. ## Frequently asked questions **What is the current U.S. refinery utilization?** As of 31 July 2026, the latest readings are Refinery utilization at 96.50 Percent and Five-year average at 93.07 Percent. The Refinery utilization line is down 0.4 pp over the past year and above its long-run median of 90.30 Percent. **How often is this benchmark updated?** This benchmark is built on weekly data. The page is refreshed when the source publishes new observations; the freshness block below the chart shows the exact data-through date and when PIER20 last fetched the file. **What data sources does this chart use?** The chart is built from Refinery utilization and Five-year average, sourced from the U.S. Energy Information Administration (EIA). **What is the highest and lowest Refinery utilization has reached?** The percentile cell ranks the latest reading against the full sample. The 100th percentile is the highest on record. The 0th is the lowest. This page charts the five-year seasonal average only. Read extremes from the full history and the percentile cell. **How is this different from refinery crude inputs?** Utilization normalizes by capacity: the same crude input volume is 80% utilization on a large fleet and 95% on a small one. The inputs page answers 'how much crude is being processed'; this page answers 'how much of the fleet is working'. The spare-capacity question that matters for product prices. **Why does the five-year average only start five years into the history?** A baseline needs five full prior years of observations. The current year never enters its own baseline. The first five years of a series have no complete reference window. Earlier readings plot without a seasonal reference. ## Methodology - Formula: seasonalAverage(t) = mean of same EIA week (±1 week) in the five complete years before t - Frequency: Weekly - Sources: Refinery utilization (WPULEUS3) https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=WPULEUS3&f=W; Five-year average (WPULEUS3#seasonalAvg) https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=WPULEUS3&f=W. Data via the U.S. Energy Information Administration (EIA). - Data through: 31 July 2026 - Last refreshed: 11 Aug 2026 Full interactive chart: https://pier20.com/benchmarks/us-refinery-utilisation Disclaimer: research software output, not investment advice.