Washington, D.C. – Both gasoline production and demand in the U.S. reached all-time highs for a February, according to the American Petroleum Institute (API).
Total motor gasoline deliveries, a measure of demand, rose 2.2 per cent from February 2009 to 2010 to a record nine million barrels per day (bpd), while finished gasoline production gained 0.4 per cent for a record February high of 8.8 million bpd. Imports of gasoline and components in February fell 25.9 per cent from 2009, to 813,000 bpd.
“These numbers clearly show that the refining industry is making the gasoline consumers are demanding, and making it at record levels,” said John Felmy, API chief economist. “Production is keeping pace with demand, which appears driven in part by some brightness in the economic picture, even as imports fall.”
Domestic crude oil production for February 2010 reached 5.5 million bpd, the highest level since June 2005, and 3.6 per cent higher than February 2009. Crude production in the lower 48 states rose 5.5 per cent to 4.8 million bpd, while Alaskan output gained 0.3 per cent to 681,000 bpd.