U.S. summer driving season is in full force, boosting domestic gasoline demand
The U.S. summer driving season typically spans from April to late-September. More drivers historically hit the road with spring and summer holidays, helping boost domestic gasoline demand. EIA’s preliminary weekly data shows gasoline demand in early July was up ~430 kb/d compared to March’s average demand level. This is slightly more than the seasonal average change for the period (+315 kb/d). The boost has been helped by a record number of people traveling. AAA estimated that a record number of people traveled over Memorial Day and July 4th holidays. 61.6 million people were projected to travel by car over July 4th– the highest volume for any period on record. The U.S. driving season has typically peaked in July or August before slowing in September.
