While the week-on-week numbers were down, the overall trend in gasoline demand continues upward.
The latest data from the U.S. Energy Information Administration (EIA) showed that the four week moving average for gasoline consumption for the week ending August 14 was up both versus the previous week, month and year. Gasoline consumption was down for the week ending August 14 compared to the previous week, but less than the increase reported for the previous week.
The weekly percentage change has been “see-sawing” for the last two months, typically increasing one week, followed by a decrease the following week. While gasoline