GasBuddy says US gasoline demand rose 1.7% last week | – #GasBuddy #gasoline #demand #rose #week
NEW YORK, Feb 12 (Reuters) – GasBuddy.com reported on Sunday that USAof gasoline U.S. crude oil demand rose 1.7% to 8.45 million barrels per day last week, a daily increase from a week ago.
Demand for the week of Feb. 5 was also 3.7% above the four-week average, according to Patrick De Haan, head of oil analysis at GasBuddy.com, which tracks fuel prices nationwide.
De Haan tweeted, “For the first time since June USAof gasoline demand increased not only daily compared to the previous week, but also above the four-week average, he said.
According to GasBuddy, gasoline consumption was the highest weekly since demand was 8.74 million barrels on December 18.
Compared with analysts’ expectations in a Reuters poll by the Energy Information Administration on Wednesday, USAU.S. gasoline inventories (USOILG=ECI) rose 5 million barrels to 239.6 million barrels in the week ended Feb. 3, driven by increased demand. million barrel increase. Oil refinery utilization rates (USOIRU=ECI) rose 2.2 percentage points during the week to 87.9%.
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Gasoline futures rose to $2.50 a gallon on Friday from $2.32 a gallon on Feb. 3, with wholesale gasoline prices has also been rising recently.
Meanwhile, oil prices up more than 2% on Friday and weekly gains of more than 8%, so Russia announced plans to cut oil production next month after the West imposed price caps on the country’s crude oil and fuel. Brent oil gained 8.1% weekly, and US crude oil gained 8.6%.
Reporting by Lewis Krauskopf; Edited by Diane Craft
Our standards: Thomson Reuters Trust Principles.
2023-02-13 04:23:27
Source – reuters
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