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East Coast Gasoline Pinch Worsens With Inventories at Eight-Year Low

  • Pump prices are rising heading into midterm elections
  • Diesel scarcity is easing but supplies remain seasonally low

Gasoline supplies on the US East Coast tumbled to an eight-year low, exacerbating a fuel shortage among wholesalers that threatens to further drive up pump prices heading into the midterm election. 

Overall US stockpiles are now the tightest since November 2014. That’s hitting pump prices, with East Coast states seeing some of the biggest jumps while, nationwide, prices have halted their streak of declines and started to rise again. The national average stood at $3.765 a gallon Wednesday, the highest level recorded for this time of year, according to AAA.