U.S. gasoline demand in the coming peak spring-summer driving season will slip to a 12-year low...

|By:, SA News Editor

U.S. gasoline demand in the coming peak spring-summer driving season will slip to a 12-year low of 8.87M bbl/day as fuel-efficiency gains more than offset increasing highway travel, EIA forecasters say. The U.S. average retail price for regular gasoline is projected at $3.63/gal., down 1.8% Y/Y, due mostly to slightly lower crude oil prices that account for 65% of the pump price.