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US Gasoline Demand to Keep Falling: EIA Forecast


US gasoline demand has peaked according to the EIA. It expects demand to keep drifting lower through 2024 in its latest forecast.

  • Consumption was already flatlining before the Covid-19 pandemic, but it still hasn’t recovered fully and shows little sign of doing so anytime soon.
  • US drivers consumed 8.76 million barrels a day of the road fuel last year - down from the previous year and 550,000 barrels a day, or 6%, below the 2016-2019 average.
  • The outlook is for demand to keep drifting lower this year and next, with improved fuel efficiency, a drop in commuting and changed driving habits being contributing factors.

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