Stable crude prices, weaker demand, and high inventories moderate gasoline prices heading into Memorial Day (5/24/2017)

Gasoline prices heading into the 2017 Memorial Day weekend average $2.40 per gallon (gal) nationally, up from last year's price of $2.30/gal before the holiday weekend. Despite the year-over-year increase, 2017 marks the second-lowest price ahead of the Memorial Day weekend since 2009, when the national average price of regular gasoline was $2.31/gal (Figure 1). Relatively low crude oil spot prices, weaker year-over-year gasoline demand, and high gasoline inventories are all putting downward pressure on gasoline prices. ... More »

Indian liquid fuels consumption declined in the first quarter of 2017 but is beginning to recover (5/17/2017)

India is a major contributor to the growth in global liquid fuels consumption. Total liquid fuels consumption in India grew 8% in 2016, the largest increase since 2009, to an estimated 4.35 million barrels per day (b/d). EIA estimates that in 2015 and 2016, Indian liquid fuels consumption growth constituted 19% and 20%, respectively, of the net global growth in liquid fuels consumption. However, according to preliminary estimates from India’s Ministry of Petroleum and Natural Gas, Indian liquid fuels consumption fell 3% in the first quarter of 2017 compared with the same quarter in 2016, the first year-over-year quarterly decline since 2013. ... More »

Fuel economy improvements projected to reduce future gasoline use despite recent changes in vehicle sales mix (5/10/2017)

Gasoline demand is a function of the fuel economy of the vehicle fleet and the total number of miles driven. Over time, fuel economy of the vehicle stock (those in use) changes as a result of market developments and changes in fuel economy standards for new vehicles. Additional complexities arise from changing vehicle designs and how vehicles are classified.. ... More »

Petroleum product exports from the U.S. Central Atlantic states were unusually high in February (5/3/2017)

Exports of finished petroleum products from the Petroleum Administration of Defense District (PADD) 1B, which comprises the U.S. Central Atlantic states (Delaware, District of Columbia, Maryland, New Jersey, New York, and Pennsylvania), reached a record high for the month of February, as petroleum product prices in that region weakened compared with prices in the rest of the Atlantic Basin region. In February, exports of finished petroleum products from PADD 1B were 232,934 thousand barrels per day (b/d), more than 2.5 times greater than the previous five-year average (Figure 1). Distillate and total motor gasoline, the two most consumed petroleum products globally, were among the products that showed an increase in exports. ... More »