Gasoline demand in U.S. falls below 2020 lockdown summer
The four-week average of U.S. gasoline consumption, the best gauge for the country’s demand, is now more than 1 million barrels a day below pre-Covid seasonal norms, according to. As for the headline comparison with the Covid lockdown summer of 2020: The four-week running average for the week ending July 31, 2020, was 8.656 million barrels a day, while the average for the week ending July 29, 2022, was 8.592 million.
Either number is still considerably greater than the worst of the lockdown in April 2020, when virtually everyone stayed home and consumption plunged to 5.3 million barrels., with the current national average price of a gallon of unleaded at $4.16, it’s not enough to lure drivers back to the road with historic inflation constraining consumer budgets.in New York Wednesday.
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