Energy Management Institute Says Gasoline Demand Up Despite Higher Prices

PRLog (Press Release) - Feb. 23, 2012 - New York, NY, February 23, 2012:   Analysis of weekly data through Wednesday morning shows that Americans continue to drive despite rising gasoline prices.  Wholesale truck loadings tracked by EMI’s Fuel Demand Data Center totaled 32.9 million barrels for the week ended 1/25/12 and 36.3 million for the week ended 2/22/12.  That 10.5% increase in demand came during a time when average wholesale prices rose 7.4% from $2.8082 to $3.0157 per gallon.

The analysis was initially launched to determine the effect of the Presidents Day holiday on demand.  “We expected to see demand decline on the week due to the lack of a normal Monday commute in conjunction with higher prices”, said Demand Data Center Director J. Scott Susich.  “Instead we saw a significant bump in demand at a time when pump prices continue to escalate.”

Eleven states saw demand increase by more than 20% while only 4 states showed a decline in barrels loaded.  Wholesale prices (which do not include taxes or retail margin) increased in every state except Alaska which remained stable.  A state by state breakdown of the analysis is included with this release.  EMI Fuel Demand Data Center electronically tracks daily barrel liftings of gasoline and diesel products at wholesale delivery points along with the average wholesale price.  More detail about the Center’s capabilities can be found here:
 http://www.energyinstitution.org/publication/fuel-demand.php.


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   Price Per Gallon      Wholesale Barrels Loaded
   Week   Ending   Percent       Week   Ending   Percent
   1/25/2012   2/22/2012   Change      1/25/2012   2/22/2012   Change
Alabama   $2.9222   $3.1182   6.71%      353,131   432,176   22.38%
Alaska   $3.4649   $3.4644   -0.01%      57,728   59,195   2.54%
Arizona   $2.9417   $3.1923   8.52%      846,788   839,917   -0.81%
Arkansas   $2.8908   $3.0849   6.71%      344,040   405,573   17.89%
California   $2.9554   $3.3490   13.32%      4,159,529   4,515,093   8.55%
Colorado   $2.5591   $2.7105   5.92%      618,262   688,712   11.39%
Connecticut   $2.9606   $3.1461   6.27%      497,131   507,622   2.11%
Delaware   $2.9396   $3.1279   6.40%      288,342   276,739   -4.02%
Florida   $2.9947   $3.1518   5.25%      1,673,178   1,845,373   10.29%
Georgia   $2.9290   $3.1048   6.00%      901,317   1,005,961   11.61%
Hawaii   N/A   N/A   N/A      52,161   62,658   20.12%
Idaho   $2.6562   $2.7605   3.93%      160,081   176,354   10.17%
Illinois   $2.7334   $2.8633   4.75%      1,377,140   1,565,297   13.66%
Indiana   $2.7085   $2.8560   5.45%      472,048   560,051   18.64%
Iowa   $2.7546   $3.0226   9.73%      580,096   447,863   -22.80%
Kansas   $2.6814   $2.9789   11.09%      537,246   580,613   8.07%
Kentucky   $2.8677   $3.0243   5.46%      175,670   228,387   30.01%
Louisiana   $2.9362   $3.1187   6.21%      629,330   680,596   8.15%
Maine   $2.9646   $3.1605   6.61%      238,400   293,448   23.09%
Maryland   $2.9691   $3.1599   6.43%      389,791   435,601   11.75%
Massachusetts   $2.9669   $3.1607   6.53%      971,502   1,003,978   3.34%
Michigan   $2.6997   $2.8012   3.76%      1,023,730   1,098,112   7.27%
Minnesota   $2.7324   $2.9957   9.64%      645,313   665,357   3.11%
Mississippi   $2.9268   $3.1018   5.98%      271,736   295,918   8.90%
Missouri   $2.7386   $3.0154   10.11%      293,609   330,131   12.44%
Montana   $2.5603   $2.6810   4.71%      196,523   235,072   19.62%
Nebraska   $2.7085   $3.0269   11.76%      187,923   191,199   1.74%
Nevada   $2.9065   $3.1801   9.41%      212,977   246,309   15.65%
New Hampshire   N/A   N/A   N/A      N/A   N/A   N/A
New Jersey   $2.9277   $3.1145   6.38%      1,087,051   1,246,892   14.70%
New Mexico   $2.6966   $2.9585   9.72%      214,065   238,225   11.29%
New York   $2.9724   $3.1575   6.22%      1,072,454   1,099,502   2.52%
North Carolina   $2.9411   $3.1033   5.52%      896,221   1,074,918   19.94%
North Dakota   $2.7052   $2.9782   10.09%      196,971   226,152   14.81%
Ohio   $2.7955   $2.8650   2.48%      1,063,723   1,186,839   11.57%
Oklahoma   $2.6941   $2.9662   10.10%      553,617   704,808   27.31%
Oregon   $2.8752   $3.2041   11.44%      379,473   428,761   12.99%
Pennsylvania   $2.9573   $3.1401   6.18%      671,033   750,338   11.82%
Rhode Island   $2.9517   $3.1391   6.35%      368,323   392,516   6.57%
South Carolina   $2.9516   $3.1230   5.81%      458,848   597,603   30.24%
South Dakota   $2.6994   $2.9851   10.59%      132,635   144,391   8.86%
Tennessee   $2.9334   $3.1014   5.73%      1,097,574   1,168,446   6.46%
Texas   $2.8693   $3.0804   7.36%      3,819,706   4,108,419   7.56%
Utah   $2.5911   $2.6901   3.82%      235,181   241,687   2.77%
Vermont   $3.0021   $3.1945   6.41%      27,981   25,845   -7.63%
Virginia   $2.9208   $3.1035   6.26%      845,745   928,127   9.74%
Washington   $2.7684   $3.0093   8.70%      697,776   926,984   32.85%
West Virginia   $2.8560   $3.0241   5.88%      20,300   24,824   22.29%
Wisconsin   $2.7282   $2.8528   4.57%      820,386   1,033,378   25.96%
Wyoming   $2.5348   $2.6629   5.05%      110,310   148,551   34.67%
                     
Total U.S.   $2.8082   $3.0157   7.39%      32,924,095   36,370,511   10.47%

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EMI (http://www.emi.org) provides education services to major oil companies, utilities, Fortune 500 end-users and transportation fleets.d. It also provides critical business information in the energy segments of Oil, Gas, and Power.