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U.S. Gasoline Demand at Record High
Consumers in the U.S. burned through a record 416 million gallons of gasoline per day in mid-April.
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Consumers in the U.S. burned through a record 416 million gallons of gasoline per day in mid-April, according to the Energy Information Administration.
It was the fastest pace for the period ever and the highest for the year to date. EIA says daily consumption last year peaked at 386 million gallons.
Domestic gasoline production rose to 428 million gallons per day in mid-April, a rate not usually achieved until mid-summer. But U.S. fuel supplies dipped, because foreign demand for U.S.-produced gasoline also is growing.
Average retail prices for regular-grade gasoline in the U.S. is at $2.75 per gallon, up 19 cents compared with a month ago and 33 cents compared with a year ago, according to AAA. Gasoline prices in the country peaked at a record high $4.11 in July 2008.
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