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Reporting, Retail

U.S. Summer Gasoline Demand Expected to Dip to 11-Year Low


WASHINGTON, D.C. — Despite it being prime vacation season, U.S. demand for gasoline is expected to hit its lowest level in 11 years, reported the U.S. Energy Information Administration (EIA). High pump prices and the increased use of more efficient vehicles have both encouraged reduced fuel consumption.

Gasoline consumption is expected to average nearly 8.8 million barrels per day (bpd) from April to September, the lowest since 2001 and approximately 6.4 percent less than the record high of 9.4 million bpd in 2007, according to the EIA’s April Short-Term Energy Outlook (STEO). The forecast could still change with the release of the next STEO on May 8, reported the EIA.

Fuel prices, which are expected to be 24 cents higher per gallon than last summer on average, will likely reduce some highway travel and fuel use, but for families who do hit the road for vacation, the cost to fuel up a family vehicle will likely rise modestly. A vehicle that gets 20 miles per gallon and uses 25 gallons during a 500-mile roadtrip will cost an extra $6 in fuel, according to the report.

via U.S. Summer Gasoline Demand Expected to Dip to 11-Year Low – Petroleum – Convenience Store News.

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About Bob Innes

Who am I and what I do best! I am a skilled Sales and Marketing team player known for performing behind the scenes miracles that increase base distribution, improve customer relationship management, exceed annual sales volume,and profitability for Consumer Packaged Goods companies. And I've been doing it for over 15 years. My successful contributions include such clients as Kraft Foods, Mars, Bumble Bee Foods, Unilever, Johnson and Johnson and SC Johnson, and JM Smuckers.

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