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American gasoline consumption slips in Apr'13

By Religare
|

Gasoline demand in the US slumped to the lowest level in 13 years last month as a slowdown in economic growth curbed gasoline consumption in the world's biggest fuel consuming nation.

Total deliveries of gasoline, a gauge measuring demand, fell 3.9 per cent to 8.47 million barrels per day in April 2013 from the same month last year, the American Petroleum Institute (API) said in a report on Thursday.

 

Average US gasoline consumption year-to-date fell by 2.1 per cent to 8.38 million barrels per day from the same period last year.

Total petroleum demand in the US rose by 0.3 per cent to 18.4 million barrels a day in April 2013 from the same month last year, the API said.

"The weak gasoline consumption numbers are related to the weak economy. Gasoline demand tends to be a reflection of employment and retail sales, both of which are anemic. There was also a rise in prices, which probably trimmed demand", API said.

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Story first published: Friday, May 24, 2013, 13:30 [IST]
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