Summer Gasoline Demand in US Drops Below Pandemic Levels
Chunzi Xu
Wed, August 3, 2022 at 11:43 AM·1 min read
Summer Gasoline Demand in US Drops Below Pandemic Levels
(Bloomberg) -- Americans are officially driving less than they did in the summer of 2020, when pandemic travel restrictions all but halted movement.
The four-week average of US gasoline consumption -- the best gauge for the country’s demand -- is now more than 1 million barrels a day below pre-Covid seasonal norms, according to Energy Information Administration data.
The drop suggests the glimmer of demand recovery seen last week was fleeting: Though pump prices have fallen for 50 straight days, it’s not enough to lure drivers back to the road with historic inflation constraining consumer budgets.
https://finance.yahoo.com/news/summer-gasoline-demand-us-drops-154329656.html
