For just the second time since the start of the pandemic the four-week moving average was above pre-pandemic levels.
Gasoline consumption continued to improve in the first half of October despite the headwinds from the resurgence of the COVID-19 pandemic during the summer and increasing gasoline prices. Gasoline demand had been at all-time record levels leading into the July 4 holiday in the U.S. but had retreated to slightly below the levels seen two years ago before the start of the pandemic.
The latest data from the U.S. Energy Information Administration (EIA) showed that gasoline consumption for the week ending
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