U.S. gasoline consumption is close to pre-epidemic levels

Sinopec News Network reported on May 21, according to a hydrocarbon processing website that traffic in the United States has almost returned to the level before the epidemic.

According to data from the Federal Highway Administration in March 2021, traffic on all roads fell by less than 4% in March compared to the same period two years ago.

In April 2020, at the peak of the first wave of the epidemic, traffic volume fell by 41%.

With the relaxation of social distancing restrictions and the reopening of more service companies and offices, car usage in April and May may further increase.

More driving means more fuel consumption.

In the four weeks ending May 14, the amount of gasoline supplied to the domestic market fell by only 4% to 8.

As more employees return to the office and the domestic tourism industry recovers, the remaining driving and fuel shortages in the third quarter may be eliminated.

The rapid normalization of gasoline consumption has encouraged a strong recovery in automobile fuel production, and automobile fuel production has approached the level before the epidemic.

　　According to the U.

　　Like driving and consumption deficits, refinery gasoline production may reach pre-epidemic levels in the summer.

　　The huge surplus accumulated during the first wave of the epidemic has been absorbed.

　　Due to quarantine restrictions, aircraft fuel consumption is still severely affected, but in the gasoline market, as long as there is no resurgence of infection, the impact of the epidemic seems to be basically over.

　　Wu Henglei compiled from hydrocarbon processing

　　The original text is as follows:

　　US gasoline consumption nears pre-pandemic level

　　US traffic volumes have almost returned to pre-pandemic levels, helping normalise gasoline consumption as more businesses re-open, domestic leisure travel resumes and workers return to offices.

　　The volume of traffic on all roads was down by less than 4% in March compared with the same month two years ago, according to the Federal Highway Administration (“Traffic volume trends” FHWA, March 2021).

　　Traffic levels had been down 41% in April 2020 at the height of the first wave of the pandemic and were still down 11% as recently as December 2020 during the second wave.

　　Car use likely increased further in April and May as social-distancing restrictions were relaxed and more service businesses and offices re-opened.

　　More driving means more fuel consumption.

　　The volume of gasoline supplied to the domestic market, a proxy for consumption, was down by just 4% at 8.
9 million barrels per day in the four weeks to May 14 compared with the pre-pandemic five-year average of 9.
3 million b/d .

　　The remaining driving and fuel deficits are likely to be erased over the third quarter as more employees return to central offices and domestic tourism recovers.

　　The rapid normalisation of gasoline consumption has encouraged a strong resumption of motor fuel production, which is nearing pre-pandemic levels.

　　Refinery gasoline production is down by just 3% compared with the five years from 2015 to 2019, according to the Energy Information Administration (“Weekly petroleum status report”, EIA, May 19).

　　Like the driving and consumption deficits, refiners' gasoline production is likely to reach pre-pandemic levels during the summer (https://tmsnrt.
rs/2QBYsAA).

　　The enormous surplus that accumulated during the pandemic's first wave has been absorbed.
Inventories held at refineries, tank farms and in pipelines are back in line with the pre-COVID five-year average.

　　Jet fuel consumption is still severely affected by quarantine restrictions.
But in the gasoline market the impact of the pandemic appears largely over, provided there is no resurgence of infections.