09/17/2026
Think U.S. fuel prices are determined in the U.S.?
Think again.
The global energy and transportation system that existed in 2025 was both highly complex and remarkably efficient. Today, that system is being reshaped by geopolitical disruptions, including the conflicts in Ukraine and the Middle East, creating unprecedented uncertainty across global markets and supply chains. While we know where the industry began, the ultimate outcome of these disruptions remains unclear.
A new paper, developed by S&P Global Energy and peer reviewed by TEI's Board of Advisors, provides a snapshot of the market as it existed before these shocks and establishes a foundation for evaluating the range of possible futures that may emerge.
The paper explains how petroleum-based fuels are produced, traded, and transported around the world, and why events thousands of miles away can directly influence fuel availability and prices in the United States.
Key findings include:
✅ The U.S. is the world's largest fuel market and refining center.
✅ The Gulf Coast is a critical export gateway for global fuel supplies.
✅ Canada remains America's largest energy trading partner.
✅ International trade plays an increasingly important role in regional fuel availability.
✅ Events occurring thousands of miles away can influence prices and supply here at home.
As conflicts, trade disruptions, and geopolitical uncertainty continue to reshape energy markets, understanding these fuel flows is no longer optional. It's essential.
Read the full report. https://bit.ly/4yNZs4d