U.S. refineries are producing a smaller share of gasoline from every barrel of crude oil they process and shifting production efforts toward diesel and jet fuel as soaring margins on those products reshape the economics of American refining. Gasoline yields averaged below 45% during the first eight months of 2026, falling below the previous five-year low in every month, according to data published Thursday by the U.S. Energy Information Administration (EIA). That's a significant departure for a refining industry that typically produces 45 to 50…

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