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US gasoline deliveries in July highest on record

Total motor gasoline deliveries—a measure of consumer gasoline demand—in the US in July moved up 2.4% from July 2015 to average nearly 9.7 million barrels per day, according to figures from the American Petroleum Institute (API). Compared with June 2016, total motor gasoline deliveries increased 0.3%. For year-to-date, total motor gasoline deliveries increased 2.5% compared with year-to-date 2015 to a record level just above 9.3 million barrels per day.

Gasoline deliveries, a measure of consumer demand, hit their highest level on record in July. With this indication of increased demand, it’s clear that consumers have continued to benefit from lower gasoline prices at the pump.

—Erica Bowman, API chief economist

Total petroleum deliveries in July moved up by 0.8% from July 2015 to average 20.1 million barrels per day. These were the highest July deliveries in nine years, since 2007. Compared with June, total domestic petroleum deliveries, a measure of US petroleum demand, increased slightly by less than 0.1%. For year-to-date, total domestic petroleum deliveries moved up 1.1% compared to the same period last year.

Crude oil production was down from the prior month, the prior year, and the prior year-to-date as production continued to slow down and reached its lowest output level for any month since March 2014. Crude oil production decreased 1.9% from June, and was down 10.0% from July 2015 to average 8.5 million barrels per day in July.

US total petroleum imports in July averaged just below 10.5 million barrels per day, up 6.8% from the prior month and up 9.9% from the prior year, but was the fourth lowest total petroleum imports for the month of July in 19 years, since 1997.

At 10.2 million barrels per day, gasoline production for the month of July reached its highest level for any month on record. This was up by 1.9% from the prior year, and up 1.3% from the prior month. For year-to-date, gasoline production increased by 1.9% compared to the same period last year and was the highest year-to-date on record.

Refinery gross inputs moved down 0.7% from July 2015, but remained the second highest inputs for the month of July, averaging 17.1 million barrels per day. Compared to June 2016, refinery gross inputs were up 1.9%.

Comments

ChrisL

Perhaps time to increase the Federal gasoline tax by $1 per gallon.

HarveyD

Yes ChrisL.

However, it will never happen in an election year in USA. A progressive 5+ cents/gal/month (for the next 10 to 12 years) pollution tax on all fossil and bio liquid fuels together with an equivalent tax on dirty Coal and NG electricity would be fully justified.

The new US government may be able to do it early next year but it may not have the necessary drive, motivation and support todo it?

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