Gasoline Demand Dumps
US DOE released April data yesterday, showing a sharp revision to April gasoline demand compared to the preliminary estimates; down 3.7% YoY. or about 300,000 bpd, vs previous estimates of down 0.4%.
That is the lowest demand for gasoline in the month of April since 2002.
Demand for petroleum products in April down -437,000 bpd versus a year ago, or -2.7% and is the lowest demand for a month of April since 1997.
Demand for distillate was revised down to 0.5% below a year ago, at 3.689 million bpd.
Crude throughput averaged 14.302 million bpd, down 818,000 from a year ago, the lowest for April since 1996.
The US Highway Administration had shown that Vehicles-Miles of Travel had dropped by -2.4% in April versus a year ago.
That is the lowest demand for gasoline in the month of April since 2002.
Demand for petroleum products in April down -437,000 bpd versus a year ago, or -2.7% and is the lowest demand for a month of April since 1997.
Demand for distillate was revised down to 0.5% below a year ago, at 3.689 million bpd.
Crude throughput averaged 14.302 million bpd, down 818,000 from a year ago, the lowest for April since 1996.
The US Highway Administration had shown that Vehicles-Miles of Travel had dropped by -2.4% in April versus a year ago.
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