U.S. gasoline demand continues to inch up in November: API

Cathy Landry | 202.682.8122 | landryc@api.org

WASHINGTON, December 16, 2009 – November U.S. gasoline deliveries (a measure of demand) increased 1.5 percent the same month a year ago, continuing a nearly uninterrupted string of increases since June. Overall, domestic petroleum deliveries fell just 1 percent, the smallest decline since late 2007 if September’s anomalous increase due to year-ago factors is excluded, according to API’s Monthly Statistical Report.

“Distillate and jet fuel delivery declines were much more moderate than previous months, which could be an indication of continued economic recovery,” said API’s Statistics Manager John Felmy. Felmy explained jet fuel and distillate, which includes diesel fuel, are among the petroleum products for which demand is most closely tied to economic activity.

Distillate deliveries fell 4.6 percent from a year ago, the smallest distillate decline since January. Still, distillate deliveries for November averaged just 3.69 million barrels per day, the lowest for that month in ten years. This November's deliveries were down nearly 12 percent from the November high of 4.18 million barrels per day reached in 2006.

November’s kerosine jet fuel deliveries fell 3.1 percent from a year ago, among the smaller declines seen so far in 2008. Jet fuel deliveries fell more than 11 percent in the first-quarter compared with the corresponding period of 2008, nearly 14 percent in the second quarter and by 6.6 percent in the third quarter.

Domestic crude oil production hit a four-year high of 5.4 million barrels per day in November, 7.7 percent higher than last November.  Lower-48 production continued to see stronger rates of production for the month, while Alaskan crude output slipped by 2.3 percent from a year ago.

November crude imports rose 5.4 percent from October, while product imports increased 3 percent from the prior month. Total imports were 4.9 percent higher than October, but 13.3 percent lower than last November.