Oil and Gas News from OilGasDaily.Com  
OIL AND GAS
U.S. gasoline consumption at record highs
by Daniel J. Graeber
Washington (UPI) Nov 2, 2016


disclaimer: image is for illustration purposes only

The amount of gasoline consumed and the total miles traveled during peak summer travel time in the United States set a new record, a federal report said.

The U.S. Energy Information Administration reported total motor gasoline consumption in June set a record of 9.7 million barrels per day, beating the previous record set in July 2007 by about 1 percent.

"U.S. gasoline consumption during summer 2016 -- June through August -- increased by 169,000 bpd, or 1.8 percent, relative to the same period in 2015," EIA reported.

Miles traveled, meanwhile, set a new record for June, with a year-on-year increase of nearly 3 percent to 9.3 billion miles per day on average, EIA. That means people drove more on less fuel.

"The increase in gasoline consumption was slightly lower than the increase in driving, suggesting that fuel economy improvements slightly mitigated the increase," the report read.

Average fuel economies have improved by about 28 percent since the beginning of the millennium. Gasoline production, meanwhile, is just short of an all-time record, which is keeping prices at the pump in check.

Retail fuel prices may in part explain the increase in travel, as well as general improvements in the U.S. economy. The average retail price for a gallon of regular unleaded gasoline on a national basis is relatively unchanged from last year. The latest report on gross domestic production, meanwhile, finds the economy grew by 1 percent from the second quarter.

Motor club AAA reports a national average price of $2.21 per gallon, though that price point may be skewed higher because of this week's fatal gasoline pipeline explosion in Alabama. Even then, today's average is less than one week ago. The all-time record for a national average was $4.11 per gallon in July 2008.

EIA expects national gas prices to fall below the $2 mark by January and average $2.26 per gallon for full-year 2017. Gasoline consumption is expected to be 0.5 percent higher in 2017 than this year.


Comment on this article using your Disqus, Facebook, Google or Twitter login.


Thanks for being here;
We need your help. The SpaceDaily news network continues to grow but revenues have never been harder to maintain.

With the rise of Ad Blockers, and Facebook - our traditional revenue sources via quality network advertising continues to decline. And unlike so many other news sites, we don't have a paywall - with those annoying usernames and passwords.

Our news coverage takes time and effort to publish 365 days a year.

If you find our news sites informative and useful then please consider becoming a regular supporter or for now make a one off contribution.
SpaceDaily Contributor
$5 Billed Once


credit card or paypal
SpaceDaily Monthly Supporter
$5 Billed Monthly


paypal only


.


Related Links
All About Oil and Gas News at OilGasDaily.com






Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle

Previous Report
OIL AND GAS
OPEC volatility spilling over to consumer gas prices
Washington (UPI) Nov 1, 2016
Retail gasoline prices in the United States may be erratic as investors guess on what happens next with OPEC, though pain at the pump is diminishing, AAA said. The motor club reports a national average retail price for a gallon of regular unleaded gasoline at $2.21 for Tuesday, relatively unchanged from one week ago and slightly higher than the national average reported for this date in ... read more


OIL AND GAS
Bioelectronics at the speed of life

NREL finds bacterium that uses both CO2 and cellulose to make biofuels

State partnerships can promote increased bio-energy production, reduce emissions

Turning biofuel waste into wealth in a single step

OIL AND GAS
Tesla expands its portfolio to produce solar roof tiles

CPP, SolarCity Deal Keeps Colton, Calif., Community Affordable and Sustainable

Schools in oil-rich Alberta to get solar panels

Renewable energy on the rise, IEA finds

OIL AND GAS
Cuomo announces major progress in offshore wind development

New York set for offshore wind after environmental review

OX2 signs 148 MW wind power deal with Aquila Capital and Google

Prysmian Secures Contract for Offshore Wind Farm Inter-Array Submarine Cables Supply in Belgium

OIL AND GAS
Rosatom Considers No Restrictions on Commercial Supplies of Uranium to US

A new method to help solve the problem of nuclear waste

Greenland uranium mining opponents join government

Bulgaria to pay Russia 600 mn euros for dropped nuclear plant

OIL AND GAS
New biochar model scrubs CO2 from the atmosphere

Carbon levy could limit impact of climate change

Clouds are impeding global warming for now

Commonwealth brainstorms on climate change reversal

OIL AND GAS
VW makes progress towards 3.0 l diesel settlement: judge

Pedestrians walk freely in a world of self-driving cars

Chinese ride-share king Didi Chuxing could go global

Long-vanished German car brand joins electric race

OIL AND GAS
Iraqis move on Mosul as IS chief defiant

Fight to the end, IS boss Baghdadi urges Mosul jihadist

'True liberation' begun as Iraqi forces enter Mosul

Iraq forces fight way into Mosul

OIL AND GAS








The content herein, unless otherwise known to be public domain, are Copyright 1995-2024 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. General Data Protection Regulation (GDPR) Statement Our advertisers use various cookies and the like to deliver the best ad banner available at one time. All network advertising suppliers have GDPR policies (Legitimate Interest) that conform with EU regulations for data collection. By using our websites you consent to cookie based advertising. If you do not agree with this then you must stop using the websites from May 25, 2018. Privacy Statement. Additional information can be found here at About Us.