U.S. Fuel Use Seen at Post-Virus High in Run-Up to Holiday
- Gasoline pump price high since 2014, up about 6 cents in month
- Rebound in consumption means oil industry securing comeback
Photographer: Frederic J. Brown/AFP/Getty Images
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U.S. gasoline consumption in the week leading up to the Independence Day holiday may have been the highest since September 2019, adding to signs of recovery from the pandemic travel slump, analysts said.
Demand for the week ended July 2 was probably 9.6 million barrels per day based on retail sales, said Patrick DeHaan, head of petroleum analysis at GasBuddy. That would be the highest since Sept. 6, 2019, and compares with a national moving average in early July 2019 of 9.7 million barrels a day. The Energy Information Administration will report consumption figures Thursday.