April 20, 2006

U.S. gasoline demand remains up over last year

Washington, D.C. – The U.S. demand for gasoline has consistently remained slightly above the level for the same period in the prior year, despite an increasing national average price that is currently 24.4 per cent higher than the national average price at the same time last year, reports the Green Car Congress.

For the four-week period ending April 14, 2006, U.S. demand averaged 9.129 million barrels of gasoline per day, compared to 9.107 million per day for the comparable 2005 period, according to the Energy Information Administration’s report. The EIA also stated that while some stations have posted prices for regular gasoline exceeding US$3 per gallon, it is not forecasting prices that high, on average, over a whole month.

The report notes that the primary factor for forecasting prices is the projected return of three Gulf Coast refineries that were shut down by hurricanes last fall. As a result of the loss of capacity, gasoline production for the most recent four-week period was down 457,000 barrels per day, while gasoline demand was up slightly.

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