In its latest weekly report, the Energy Information Administration data shows that demand for gasoline grew from 9.59 million b/d to 9.78 million b/d last week. This latest rate is approximately 520,000 b/d higher than last year’s rate at this time. Growing demand, amid tight gasoline supplies, has contributed to a nominal increase in the national average – one cent since Monday. Gasoline stocks decreased for a fifth consecutive week by 3 million bbl to 220.1 million bbl, which is 6.1 million bbl lower than last year’s level at this time.
Growing Gas Demand Lifts National Average