Wednesday, January 26, 2022

Gasoline Demand -- January 26, 2022

Updates

Later, 6:52 p.m. CT: see first comment. From a reader -- this is simply amazing -- the records being set --

Except for the other pandemic weeks when demand tanked (as shown in the graph below), that four-week average is at a 10 year low ... meanwhile, the gasoline inventory increase of 25,259,000 barrels over the past 4 weeks was the largest for any four week period on record since 1990, handily exceeding the the four-week inventory increase of 23,952,000 barrels that we saw at the outset of the pandemic lockdowns from mid-March to mid April of 2020...so it's not a surprise to see gasoline imports at an 83-week low...

Original Post 

Link here.

It's likely that next week, there might be a slight uptick, but it won't be much.

4 comments:

  1. except for the other pandemic weeks when demand tanked (as shown above), that 4 week average is at a 10 year low...meanwhile, the gasoline inventory increase of 25,259,000 barrels over the past 4 weeks was the largest for any four week period on record since 1990, handily exceeding the 4 week inventory increase of 23,952,000 barrels that we saw at the outset of the pandemic lockdowns from mid-March to mid April of 2020...so it's not a surprise to see gasoline imports at a 83 week low...

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    Replies
    1. Thank you. I haven't checked local gasoline prices, but I don't think they have changed appreciably despite this new data.

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    2. no one looks at the data....the narrative from the media continues to be that Omicron has not impacted demand, so that's what the oil & gasoline traders, and everyone else, believe...

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    3. Omicron has greatly impacted demand and now demand destruction -- even with as little driving as I do, I find it astonishing how much it now costs to fill my cars with gasoline.

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