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Tuesday, March 2, 2021

Gasoline Demand Soaring Before Governor Abbot Removes All -- Repeat, All -- Restrictions -- March 2, 2021

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U.S. gasoline demand jumped last week to the highest level since the COVID-19 pandemic started, with demand this past Sunday up by 18.2 percent compared to the previous Sunday, according to GasBuddy data.

According to final numbers from Sunday, Pay with GasBuddy showed that U.S. gasoline demand rose by 18.2 percent versus the prior Sunday, Patrick De Haan, head of petroleum analysis for GasBuddy, tweeted on Tuesday.

Sunday’s gasoline demand was 5.7 percent higher than the previously highest Sunday since the pandemic started, which was October 18, 2020.

Timeline:

  • February 15, 2021: Texas deep freeze
  • February 18, 2021: power back on in most places; many places in Texas still without water
  • February 28, 2021: gasoline demand at highest level since pandemic started; demand this past Sunday (February 28, 2021) up almost 20% versus the prior Sunday (February 21, 2021)
  • Sunday's gasoline demand was almost 6% higher than the previously highest Sunday (October 18, 2020) since the pandemic started;

2 comments:

  1. i have a suspicion that this is another case where one record begets another, like last week's record drop in oil exports followed the record jump in exports the week before...

    ReplyDelete
    Replies
    1. I think you are correct; I had similar thoughts.

      Delete

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