• 3 minutes e-car sales collapse
  • 6 minutes America Is Exceptional in Its Political Divide
  • 11 minutes Perovskites, a ‘dirt cheap’ alternative to silicon, just got a lot more efficient
  • 30 mins GREEN NEW DEAL = BLIZZARD OF LIES
  • 7 hours How Far Have We Really Gotten With Alternative Energy
  • 9 hours If hydrogen is the answer, you're asking the wrong question
  • 4 days Oil Stocks, Market Direction, Bitcoin, Minerals, Gold, Silver - Technical Trading <--- Chris Vermeulen & Gareth Soloway weigh in
  • 6 days The European Union is exceptional in its political divide. Examples are apparent in Hungary, Slovakia, Sweden, Netherlands, Belarus, Ireland, etc.
  • 22 hours Biden's $2 trillion Plan for Insfrastructure and Jobs
  • 5 days "What’s In Store For Europe In 2023?" By the CIA (aka RFE/RL as a ruse to deceive readers)
Automakers Push Back Against New 58 MPG Fuel Efficiency Proposal

Automakers Push Back Against New 58 MPG Fuel Efficiency Proposal

The Biden administration has proposed…

Hot Weather Sends Ripples Through Natural Gas Markets

Hot Weather Sends Ripples Through Natural Gas Markets

With frequent daily movements of…

Irina Slav

Irina Slav

Irina is a writer for Oilprice.com with over a decade of experience writing on the oil and gas industry.

More Info

Premium Content

U.S. Gasoline Demand Climbs To Record Highs

Gasoline demand in the United States reached the highest level on record in August this year, at 9.77 million bpd, or up by 83,000 bpd from August 2016. That’s according to the Energy Information Agency, which added that this was the fourth monthly increase in demand in the past five months.

The increase is rather modest, however, and the next few months could see declines, as the last quarter of the year is a traditionally weak period for gasoline demand. Prices for the most popular fuel rose palpably in September, following the demand disruptions during this year’s hurricane season. These hit a two-year high of US$2.69 per gallon in early September, but later fell to US$2.57 a gallon in early October.

The EIA expects gasoline prices to average US$2.49 per gallon in October and continue falling, to reach US$2.33 per gallon in December. U.S. gasoline demand accounts for a tenth of global demand, Reuters notes, and has been growing consistently since 2012.

Yesterday, the American Petroleum Institute estimated that gasoline inventories had fallen by as much as 7.697 million barrels in the week to October 27, versus much more modest expectations of a 1.7-million-barrel to 2.5-million-barrel draw.

Crude oil demand was down in August, the EIA also said, by 114,000 bpd to 20.16 million bpd, despite the increase in gasoline demand. According to experts, fuel efficiency has a lot to do with the modest increase in gasoline demand, although the increase in miles driven in August was also modest, at 0.8 percent on an annual basis.

Crude oil production averaged 9.2 million bpd in August, down slightly from 9.23 million bpd in July, the EIA also said. In its last Short-Term Energy Outlook, the authority forecast September crude production to have risen from August to 9.3 million bpd, and average 2017 production to stand at 9.2 million bpd, rising to 9.9 million bpd next year.

By Irina Slav for Oilprice.com

More Top Reads From Oilprice.com:


Download The Free Oilprice App Today

Back to homepage





Leave a comment
  • Yakoff Smrinof on November 01 2017 said:
    The fed reserve is in panic mode as inventories fall.

Leave a comment




EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News