U.S. distillate demand returned to 2019 levels earlier than gasoline and jet fuel demand (6/23/2021)

By January 1, 1970Market

A combination of increasing travel and economic activity in the United States has contributed to greater demand for gasoline, distillate, and jet fuel as identified in the product supplied data in our Weekly Petroleum Status Report (WPSR). Although demand has increased for all three of these products from their 2020 lows, the rate and extent of the growth has differed by product. According to the June 23 WPSR that includes data through June 18, the recent four-week average demand (measured as product supplied) for gasoline was 94% of its 2019 level for the same time of year, while distillate and jet fuel demand were 98% and 74% of their 2019 levels, respectively (Figure 1). In comparison, at their lowest points in 2020, gasoline product supplied fell to 56% of its corresponding 2019 level, while distillate and jet fuel demand fell to 80% and 31%, respectively, of their corresponding 2019 levels. …A combination of increasing travel and economic activity in the United States has contributed to greater demand for gasoline, distillate, and jet fuel as identified in the product supplied data in our Weekly Petroleum Status Report (WPSR). Although demand has increased for all three of these products from their 2020 lows, the rate and extent of the growth has differed by product. According to the June 23 WPSR that includes data through June 18, the recent four-week average demand (measured as product supplied) for gasoline was 94% of its 2019 level for the same time of year, while distillate and jet fuel demand were 98% and 74% of their 2019 levels, respectively (Figure 1). In comparison, at their lowest points in 2020, gasoline product supplied fell to 56% of its corresponding 2019 level, while distillate and jet fuel demand fell to 80% and 31%, respectively, of their corresponding 2019 levels. …EIA: This Week in Petroleum

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