Since these data are preliminary, it is quite possible that the Energy Information Administration data will also show gasoline demand fell in March and April when the revised monthly data are released.
More Quotes from Rakesh Shankar:
Despite the moderation in refinery utilization by almost 1.2 last week, gasoline inventories rose a whopping 4.3 million barrels.Rakesh Shankar
This week essentially marks the death knell for winter.
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There are some fears now in the natural-gas market of a return to colder than average weather for the next few weeks.
Rakesh Shankar
After a relatively swift recovering following the devastating hurricanes late last year, refinery utilization moderated sharply since the beginning of this year, and is yet to meaningfully recover.
Rakesh Shankar
There is a real risk that U.S. refineries will be unable to sufficiently bring back capacity in time for the summer driving season. This will force increased reliance on gasoline imports, and higher prices for consumers.
Rakesh Shankar
Refinery utilization still remains very weak, with refineries still lagging in their recovery from an aggressive March maintenance schedule.
Rakesh Shankar
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