While the week-on-week gas supplied to the U.S. market was down, the four week moving average remained less than 10% below last year.
The latest data from the U.S. Energy Information Administration (EIA) showed gasoline consumption was down slightly for the week ending July 17, the second week in a row that consumption declined. For the week ending July 17 gasoline consumption was down 1.1% compared to the previous week. The decline builds upon the 1.3% decline for the week ending July 10 compared to the holiday week. During the week ending July 3, gasoline consumption had been up 2.4%