Wednesday, November 2, 2016

Americans set gasoline consumption record in summer ‘16

Thanks in part to more Americans taking driving vacations during the summer of 2016, the consumption of U.S. finished motor gasoline reached a new record high of 9.7 million barrels per day in June 2016.

That figure, released Nov. 2 by the U.S. Energy Information Administration, surpassed the previous one-month high of 9.6 million barrels per day set in July 2007.

U.S. gasoline consumption during the summer period of June through August 2016 increased by 169,000 barrels per day, or 1.8 percent, as compared to the same period in 2015, the EIA said in its Today in Energy brief.

Vehicle miles traveled were also higher in summer 2016, growing by 9.3 billion miles per day from the summer of 2015, an increase of nearly 3.0 percent.

The increase in miles traveled was slightly more than the 1.8 percent growth in gasoline consumption over that period, suggesting that fuel economy improvements slightly mitigated the increase in gasoline consumption, according to the EIA.

Over the longer term, vehicle miles traveled increased more than 6.4 percent from the summer of 2007 – the period during which the previous gasoline consumption record was set – while gasoline consumption only increased 0.5 percent.

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Graphic provided by the U.S. Energy Information Administration
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