International Energy Agency said in the October edition of its Oil Market Report that U.S. gasoline consumption fell again in September to its lowest level in two decades. IEA said preliminary data indicate falling demand for gasoline in U.S.
Phillips 66 CEO Mark Lashier said last week in Houston at Baker Institute for Public Policy at Rice University, “We absolutely believe that in the U.S. we’ve hit peak gasoline demand.” Lashier said U.S. peak demand for diesel and jet fuel will follow “in the not too distant future,” and U.S. will continue to export excess refined products. U.S. has exported about 890,000 b/d of gasoline this year.