It's not much, but Americans are using more fuel this year than last year. Numbers released by the American Petroleum Institute show that U.S. petroleum deliveries increased by 2.5 percent in September 2011, compared to September 2010. API chief economist John Felmy – always the economist, that's for sure – released this statement:
U.S. gasoline consumption declined 2.5 percent last week, compared to the same time frame in 2010, with motorist buying only (?) 8.79 million barrels a day during the week ending October 7, according to data collected by MasterCard. That's down from 9.01 million barrels a day back in October of 2010 and a bit below the 8.82-million-barrel mark set in late September.
U.S. gasoline demand fell by 1.3 percent to a ten-year low for the month of August, thanks to consumer sentiment that is still stalled even as industry demand for diesel fuel shot up by 10.8 percent, according to the American Petroleum Institute (API). On a year-to-date basis, demand for gas was two percent lower than in 2010. API chief economist, John Felmy, released a statement claiming the economy is to blame for weak demand for gas:
The American Petroleum Institute (API) reports total petroleum deliveries (a measure of demand) fell by 0.5 percent in July, compared to the same month in 2010. Though miniscule, July marks the first time in 2011 that deliveries actually dropped when compared to the previous month. Perhaps more importantly, gasoline demand hit a ten-year low for the month of July. Once again, we turn to the words of API chief economist, John Felmy, to make sense of the situation:
Steadily rising fuel costs during the first three months of 2011 have had virtually no impact on total U.S. petroleum deliveries, says the American Petroleum Institute (API). First-quarter deliveries rose by 5.5 percent, compared to the same period in 2010. For March, deliveries surged by 7.3 percent over the same month in 2010, hitting a whopping 20.5 million barrels per day. API chief economist John Felmy said in a statement that the culprit here is the rebounding economy:
Despite rising fuel costs, the American Petroleum Institute (API) reports that total U.S. petroleum deliveries (a measure of overall demand) rose by 4.4 percent in February, compared to the same month last year. At a whopping 19.7 million barrels per day, petroleum deliveries hit a a three-year high for the month of February. Gasoline deliveries, which averaged 9.0 million barrels per day, posted an all-time record for February.
The American Petroleum Institute reports that U.S. petroleum deliveries (a measure of overall demand) rose by 1.2 percent in December 2010, compared to the same month last year. Additionally, deliveries shot up by 2.3 percent for all of 2010, compared to 2009. Likewise, gasoline and diesel demand continue to rise, with gas deliveries up by 0.6 percent for the year and diesel climbing by 4.8 percent.
While delivering his inaugural address at the Petrotech 2010 conference in New Delhi, Indian Prime Minister Dr. Manmohan Singh outlined a potential problem that lingers over many emerging nations. Singh predicted India's future demand for hydrocarbon fuels and stated that the nation's emerging automotive industry, combined with its growing economy, could lead to potential oil supply issues. Dr. Singh predicts that India's demand for hydrocarbon fuels will rise 40 percent over the next ten years,
Hitting an average of 9.3 million barrels a day, gasoline deliveries in the U.S. fell a minuscule 0.03 percent this July compared to the same month a year ago. Excluding 2008, gasoline deliveries reported are the lowest of any July on record since 2003. The American Petroleum Institute (API) continues to insist that demand is down due to our struggling economic situation, but could our decreasing need for gas be partially influenced by the rise of diesel?
According to the American Petroleum Institute's (API) Monthly Statistical Report, U.S. gasoline deliveries for the first half of 2010 averaged 8.88 million barrels per day, 0.6 percent lower than the corresponding period a year ago. Though the drop in demand is minuscule, it does provide us with an indication that despite low gas prices and a rebounding economy, U.S. demand for gas continues to wane.