Jane Van Ryan
Posted March 17, 2010
U.S. gasoline production and gasoline demand set new records for a February, according to API's Monthly Statistical Report issued this morning.
February gasoline production increased 0.4 percent to a record February high of 8.8 billion barrels per day. Meanwhile, gasoline demand grew by 2.2 percent over the same month a year ago.
Gasoline (and components) imports fell in February by 25.9 percent from the same period last year to 813,000 barrels per day.
"These numbers clearly show that the refining industry is making the gasoline consumers are demanding--and making it at record levels," API Chief Economist John Felmy said.
U.S. crude oil production also increased in February to the highest level since June 2005. Baker Hughes reported the U.S. rig count climbed by 6.6 percent over January and 2.3 percent from February 2009. In North Dakota, which has experienced an oil boom in the Bakken Shale region, the rig count topped 100 for the first time in three decades.
Demand for Ultra-Low Sulfur Diesel (ULSD) fuel remained sluggish in February. Total distillate deliveries fell 6 percent from a year ago.
ABOUT THE AUTHOR
Jane Van Ryan was formerly senior communications manager and new media advisor at the American Petroleum Institute (API), where she wrote blog posts and produced podcasts and videos. Before coming to API, Jane managed communications for a large science and engineering corporation, and for a top-tier research and engineering university. A few years ago, you might have seen her in your living room when she delivered the news on television. Jane officially retired from API in 2011 and now freelances as an independent communications consultant when not gardening at her farm in Virginia.