Saturday, July 8, 2017

Was A New "US Gasoline Demand" Record Recently Set? -- July 8, 2017

Updates

Later, 1:41 p.m. Central Time: see first comment --
I missed that record high too, & I look at that table every week. I even commented on it as a reason for that week's drop in gasoline inventories:
"Our end of the week gasoline inventories decreased by 578,000 barrels to 241,866,000 barrels by June 16th, after increasing by 5,420,000 barrels over the prior two weeks ... this week's gasoline supplies were reduced because our domestic consumption of gasoline jumped by 547,000 barrels per day to 9,816,000 barrels per day, after falling by 553,000 barrels per day the prior two weeks" 
Now to explain the significant jump, third week in June? Let's see, if one gets paid every two weeks ... one has the cash to buy at the beginning of the third week ... you know, we might hit 10 million bbls before the end of the summer ....

Original Post

This is the US gasoline demand in million bbls / day on a weekly basis. It appears that we may have set a record in the third week of June. If that was mentioned in the mainstream media I missed it. At 9.8 million bbls of gasoline demand/day, we are very, very close to 10 million bbls/day.

The four-week average is still below last year, but last year was a "record year" for gasoline demand.



4 comments:

  1. i missed that record high too, & i look at that table every week...i even commented on it as a reason for that week's drop in gasoline inventories:

    "our end of the week gasoline inventories decreased by 578,000 barrels to 241,866,000 barrels by June 16th, after increasing by 5,420,000 barrels over the prior two weeks...this week's gasoline supplies were reduced because our domestic consumption of gasoline jumped by 547,000 barrels per day to 9,816,000 barrels per day, after falling by 553,000 barrels per day the prior two weeks"

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    Replies
    1. Wow, I'm glad I wasn't mis-reading something. Thank you for confirming.....

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  2. something else we've all been missing....
    https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=WCRSTUS1&f=W
    we've been drawing oil from the SPR oil too...US total stocks of crude oil are now down 4 million barrels YoY...
    everyone just quotes commercial stocks, which are up 9 million barrels

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    Replies
    1. Yes, I always keep SPR in the back of my mind; I know it's there, and I know they are releasing oil from the SPR in the usual government way of doing things: buy when oil is high; sell when it is low. LOL.

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