Last reviewed: September 14, 2026. For general information only; not personalized investment advice.
Quick answer: “Oil price today” is a useful search starting point, but it can refer to several different things: a futures quote, a spot benchmark, a retail gasoline average, or an energy-stock move. The latest available U.S. Energy Information Administration (EIA) weekly report helps establish a dated baseline; it does not provide a live quote or a price forecast.
As of this review, the most recent EIA weekly petroleum report covered the week ended September 4 and was released September 10. The next scheduled weekly release is September 16. That timing matters: a headline about today’s market may be newer than the government’s latest weekly dataset.
Three prices that should not be treated as the same number
- Crude oil benchmarks: These are wholesale reference prices and may move intraday.
- Retail gasoline: Pump prices reflect crude, refining, distribution, taxes, and local competition. They can move differently and often with a lag.
- Energy stocks: A company’s shares may react to production, hedging, refining margins, debt, dividends, or guidance—not simply the oil price.
Latest EIA reference points
| Measure | Reference date | Reported value | Weekly change |
|---|---|---|---|
| WTI crude oil spot price | August 28, 2026 | $84.57 per barrel | -$2.64 |
| U.S. regular gasoline average | August 31, 2026 | $4.071 per gallon | -$0.014 |
These are reported observations from the EIA’s weekly highlights, not intraday prices. The crude and gasoline figures also use different reference dates. That is exactly why a reader should avoid assuming that a falling crude quote must immediately produce lower retail gasoline prices.
How to use the weekly report without over-reading it
Start with the report date and the period it covers. Then look at the balance among inventories, refinery activity, production, and product demand. Each is a piece of the picture, not a stand-alone explanation for the next move in crude or an energy stock.
A practical sequence is:
- Confirm the data’s reporting week and release date.
- Separate crude inventories from gasoline and distillate inventories.
- Check whether refinery utilization or seasonal maintenance could affect product supply.
- Distinguish a national retail average from the price at an individual station.
- Only then compare the data with the latest market narrative.
What EIA data cannot tell you
Weekly government data cannot determine tomorrow’s oil price, the outcome of a geopolitical event, or the valuation of a particular energy company. It also cannot replace a company’s own filings and earnings materials. A better use of the data is to test whether a popular explanation is consistent with the dated supply-and-demand evidence.
Macro context still matters
Oil is priced in a global market, while energy equities are also sensitive to growth and rates. Use the U.S. economic calendar to track scheduled macro releases, and our federal funds rate versus Treasury yields guide for a clear explanation of why interest-rate signals can influence valuation even when a company’s operating data are unchanged.
Primary sources and method
MGI EDIT uses EIA’s official weekly report and highlights for the dated figures above. We label those observations with their reference dates and do not present them as real-time prices.
Editorial note: This article explains how to read public data; it does not forecast crude, gasoline, or energy-stock prices.
Questions to carry into the next release
When the next EIA report arrives, compare its reporting period with the date of any market move you are trying to explain. Note whether the story is about crude supply, refined-product availability, or a company-specific catalyst. That small separation reduces the risk of attributing every energy-market move to a single number.