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

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.
Comments (14)
  • Macro Investor
    , contributor
    Comments (9050) | Send Message
     
    Clearly we are facing very high inflation. Buy gold.
    10 Apr 2013, 10:59 AM Reply Like
  • spald_fr
    , contributor
    Comments (2733) | Send Message
     
    What you mean, Kemosabe?
    10 Apr 2013, 11:06 AM Reply Like
  • spald_fr
    , contributor
    Comments (2733) | Send Message
     
    Lower consumption means higher state and federal taxes to make up for the lower per gallon revenue, an unforeseen benefit of fuel-efficiency.
    10 Apr 2013, 11:01 AM Reply Like
  • angelodebo
    , contributor
    Comments (31) | Send Message
     
    Amazing..gas consumption is at a 12-year low..yet prices are at 12-year highs.

     

    Someone explain? Ooo right..global demand is increasing. What about all this "new" oil being produced in America?

     

    Obviously the market is being manipulated.
    10 Apr 2013, 11:10 AM Reply Like
  • Mike Maher
    , contributor
    Comments (2610) | Send Message
     
    Refined product exports from the US are the highest since WW2, and all the refiners are on the coast, and there hasn't been a new refinery built in the US since the 70's...increasing global demand, and a fixed global supply, means prices go up.
    10 Apr 2013, 11:45 AM Reply Like
  • kmi
    , contributor
    Comments (4040) | Send Message
     
    And counterpoint:

     

    Domestic supplies at a 22 year high, US consumption falling since '06, demand growth from EM decreasing, Saudis slowing down production with no one to sell to, DX in an uptrend since swing low to $78 on Feb 1.... means prices -should- be going down... hmm...
    10 Apr 2013, 12:24 PM Reply Like
  • Mike Maher
    , contributor
    Comments (2610) | Send Message
     
    Gasoline prices are falling going into the summer driving season which is against the norm. There have also been refinery closures and outages, which have supported prices.

     

    Also, i think some governments are running the printing presses overtime, which might keep commodity prices high, although for the life of me I can't think of who....
    10 Apr 2013, 01:37 PM Reply Like
  • Mad_Max_A_Million
    , contributor
    Comments (1175) | Send Message
     
    With Bernanke printing TRILLIONS in funny money, you were expecting the value left in the dollar to buy the same amount of oil???
    10 Apr 2013, 11:28 AM Reply Like
  • Hendershott
    , contributor
    Comments (1583) | Send Message
     
    Mad, The Fed has nothing whatsoever to do with the price of crude and by the way the dollar has been appreciating against the other major currencies. Suspicious trading in Brent forwards may have something to do with the price of Brent crude and the resulting price of gasoline and diesel in the markets we export into.
    10 Apr 2013, 01:34 PM Reply Like
  • Mad_Max_A_Million
    , contributor
    Comments (1175) | Send Message
     
    You have no idea what you are talking about, H-shotttt.
    Almost All currencies are being devalued at the same time so crude just goes up in price in every country. 90% of what you said is incorrect.
    11 Apr 2013, 10:38 AM Reply Like
  • june1234
    , contributor
    Comments (2659) | Send Message
     
    Demand for the peak summer driving season is projected to come in at a 12 yr low this yr with the US who consumes 25% of the worlds oil closing in on energy independence. And the price of a gallon of gas is still $4 up from less than $2 in 2005 . Don't think you can blame consumer for that.
    10 Apr 2013, 11:53 AM Reply Like
  • Macro Investor
    , contributor
    Comments (9050) | Send Message
     
    "The U.S. average retail price for regular gasoline is projected at $3.63/gal., down 1.8% Y/Y"

     

    We need to stop SA from spreading these lies. Shadowstats says that inflation is running at 5 trillion percent a day.
    10 Apr 2013, 01:54 PM Reply Like
  • BuildingBlocks
    , contributor
    Comments (47) | Send Message
     
    @Macro
    You know they upped the price of a Big Mac to $1,000,000. Man, that inflation. ;)
    10 Apr 2013, 10:52 PM Reply Like
  • Macro Investor
    , contributor
    Comments (9050) | Send Message
     
    And fries cost extra. Anyone who does their own groceries knows this.
    11 Apr 2013, 06:48 PM Reply Like
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