Gasoline Supply Barometer

摘要

Gasoline demand took a breather in the most recent EIA demand data, dropping by close to 500,000 b/d week on week. Demand checked in at 8.462 million b/d for the week ending June 6, marking the first time gasoline demand has been under 9 million b/d since late April/early May. The drop in demand in early June is not necessarily a surprise, as gasoline demand has a tendency too cool off right after the Memorial Day weekend. Demand leading up to Memorial Day had been strong getting all dressed up, but the first week of June has proven that there is no place to go. While gasoline demand took a step back, so too did production and imports. Not only is it difficult to keep the demand pace, it also proved to be tough to keep up with the production rates of gasoline that were topping 10 million b/d for several weeks straight.