Gasoline Demand -- Down Slightly -- October 19, 2022

Link here.

Has the "gasoline demand" curve re-set for a new "norm"?

I'm done with conspiracy theories with regard to "gasoline demand." I now accept the numbers that the EIA is providing.

The question is whether the "gasoline demand" curve should be "reset" as the new "norm"?

I don't really care why the "gasoline demand" curve has changed (if it has changed); there could be multiple reasons:

• better mileage on new cars;
• changing driving habits;
• EVs (unlikely yet)

Right now, instead of ten million bbls per day, the new "bar" should be set at nine million bbls per day.

Next summer will be the "tell."