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.