Energy Management Institute Says Gasoline Demand Up Despite Higher Prices
U.S. wholesale gasoline demand is up more than 10% since last month despite a 7% jump in prices.
Feb. 23, 2012 - PRLog -- 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:
New York-based EMI (http://www.emi.org) provides specialized education services to major oil companies, utilities, Fortune 500 end-users and top transportation fleets throughout the world. As a division of Advanced Energy Commerce, Inc., it also provides critical business information services and thought
leadership in the energy segments of Oil, Alternatives, Gas, and Power. Additionally EMI uses it market expertise to publish a number of industry reports including: Alternative Fuels Index, The Daily Hedger, FutureRack, Biofuel Age, Energy Market Analysis and Natural Gas Market Analysis.
Price Per Gallon
1/25/2012 2/22/2012 Change
Connecticut $2.9606 $3.1461 6.27%
Idaho $2.6562 $2.7605 3.93%
Iowa $2.7546 $3.0226 9.73%
Maine $2.9646 $3.1605 6.61%
Massachusetts $2.9669 $3.1607 6.53%
Mississippi $2.9268 $3.1018 5.98%
New York $2.9724 $3.1575 6.22%
Ohio $2.7955 $2.8650 2.48%
Pennsylvania $2.9573 $3.1401 6.18%
Texas $2.8693 $3.0804 7.36%
Utah $2.5911 $2.6901 3.82%
Total U.S. $2.8082 $3.0157 7.39%
# # #
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.