|Average daily petroleum consumption. Inset shows total consumption; large graph the detail of the outlined area. Click to enlarge.|
Consumption of petroleum in the US reached record highs in 2005, climbing 1.7% over 2004 levels to an average 20.7 million barrels per day, according to data from the DOE’s Energy Information Administration.
Three of the weeks in December 2005 ranked first, second and third in terms of the highest average weekly amount of petroleum consumed in the US, with the week of 16 December topping the chart at 22.156 million barrels per day.
|Average daily fuel consumption. Click to enlarge.|
Consumption of gasoline and diesel also hit their record highs in 2005, with a daily average 9.2 million barrels of gasoline (up 1% from 2004) and a daily average 4.1 million barrels of diesel (up 1.6% from 2004) consumed.
In New York this morning, crude oil rose for the sixth day out of seven on signs of continued rising gasoline demand in the US, reaching $63.38 a barrel.
“People are now confident of the global economy with oil prices in the high $50s to low $60s,” said Kevin Norrish, an analyst at Barclays Capital in London. “Crude oil fundamentals are setting the tone now and it has emerged that demand was strong toward the end of last year” in the U.S. and Japan. (Bloomberg)