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US Gasoline Demand at ~8mn bpd: GasBuddy

OIL PRODUCTS

US gasoline demand rose 2.3% on a weekly basis last Sunday-Saturday versus the week prior according to GasBuddy. It places last week’s demand 6.8% below the four-week moving average as demand seasonally wanes.

  • GasBuddy models US gasoline demand for the week ended Jan 6 at 8.04mn bpd.
  • The latest wider sell off in crude and oil product markets Monday opens the door for some sub-$2/gal pump prices - - in Great Lakes' states according to OPIS. Meanwhile, California could see some sub-$3/gal numbers this month it said.

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