Petroleum Product Wholesalers NAICS 424720

Feb 23, 2026 - Rolling Back Vehicle Mileage Rules

• The Trump administration’s rollback of federal greenhouse‑gas regulations, culminating in the elimination of the EPA’s endangerment finding, effectively removes meaningful national fuel‑efficiency standards for cars and trucks, The New York Times reports. For gasoline wholesalers, this shift could slow the long‑term decline in fuel demand by reducing pressure on automakers to improve vehicle efficiency or accelerate the transition to cleaner technologies. With civil penalties eliminated and California’s stricter rules blocked, automakers face fewer incentives to produce high‑mpg or alternative‑fuel vehicles, potentially extending the market dominance of gasoline‑powered fleets. But, the absence of federal standards also increases policy uncertainty. States like California plan legal challenges, and future administrations could reinstate stricter rules, complicating long‑term demand forecasting for wholesalers. While the near‑term environment may support steadier gasoline consumption, wholesalers must navigate a fragmented regulatory landscape and shifting consumer preferences as climate policy becomes more volatile.
• On December 1, the average retail price of regular gasoline fell to $2.98 per gallon, according to the US Energy Information Administration’s (EIA) latest Gasoline and Diesel Fuel Update. Adjusted for inflation, the Dec. 1 price was the lowest average US gasoline price since February 2021. EIA credited the decline in the pump price to the falling price of crude oil, which typically accounts for about half of the retail gasoline price. On Dec. 1, regular gasoline prices ranged between a low price of $2.55 per gallon on the Gulf Coast and a high price of $4.03 per gallon on the West Coast. Industry watchers expect gas prices to continue to fall over the next few weeks. While the Trump administration has been quick to take credit for falling gas prices, experts point to a market-based explanation for the decline.

• The Energy Information Administration is forecasting lower US crude-oil production as drilling activity slows, The Wall Street Journal reported in June. The agency said it expects crude production is likely to fall over the next 18 months as producers cut back on drilling in response to lower oil prices. In its latest monthly Short Term Energy Outlook, the EIA forecast output to slip to 13.3 million barrels a day in Q4 2026 from a record 13.5 million barrels a day in Q2 2025, citing a decline in active drilling rigs. Oil services company Baker Hughes reported there were 442 rigs drilling for oil in the US during the first week of June, the fewest since October 2021, per WSJ. However, since the EIA issued its outlook oil prices have spiked about 18% to date following attacks by Israel and the US on Iran. If sustained, higher crude prices could encourage more US drilling.
• Producer prices for petroleum and petroleum products merchant wholesalers rose 1.5% in November compared to a year ago, after falling 2.1% in the previous November-versus-November annual comparison, according to the latest US Bureau of Labor Statistics data. The average pump price for regular motor gasoline in November was $3.05 per gallon, down 0.3% from October and down 0.1% year over year, according to the Bureau of Transportation Statistics. Employment by the industry grew 1.7% YoY in November, while the average industry wage at petroleum and petroleum products merchant wholesalers was relatively flat over the same period at $33.29 per hour, down $1.50 from its peak in April, BLS data show.