The latest data from the Energy Information Administration (EIA) shows that gasoline demand grew to 8.9 million b/d last week – up from 8.6 million b/d during the previous week. When compared to last year’s rate at this time, the latest rate is approximately 200,000 b/d higher. Meanwhile, EIA reports gasoline stocks around the country grew by 4 million bbl to 259.6 million bbl last week. This rate is the highest gasoline stock level ever recorded by EIA, since it began reporting the data in 1990, and 15.6 million bbl higher than last year at this time. Increased levels of gasoline stocks could help to meet rising demand, which means the impact to pump prices could be modest. Since Monday, the national average for regular unleaded gasoline has increased two cents to $2.27.
Gas Demand Rebounds, as Gasoline Stocks Hit All-Time High