Nice to see a deep dive into the data. Given the density of the traffic on the highways in the East, it is hard to believe gasoline demand is soft. Perhaps people no longer are filling their tanks up fully, not carrying as much “inventory”
Excellent, thank you! The question of the day still remain: Why are stock prices of Canadian oil and gas where they were around the Russia invasion is a puzzle, why would portfolio managers sell the hedge against inflation when we have more and more of inflation?
> it’s very likely that US gasoline consumption has fallen back over the past few weeks, an early warning sign regarding both the strength of consumer balance sheets and the resilience of end-user fuel demand.
Gasbuddy has the last two weeks as the highest demand yet this year. Refiners earnings commentary seems to match this. My anecdotal observations (not worth much!) from driving a lot in the Northeast also point to packed roads.
well done Rory. good reminder that weekly stats are not revised.
Top Shelf content Rory, as always.
Nice to see a deep dive into the data. Given the density of the traffic on the highways in the East, it is hard to believe gasoline demand is soft. Perhaps people no longer are filling their tanks up fully, not carrying as much “inventory”
Very interesting, thank you!
Excellent, thank you! The question of the day still remain: Why are stock prices of Canadian oil and gas where they were around the Russia invasion is a puzzle, why would portfolio managers sell the hedge against inflation when we have more and more of inflation?
> it’s very likely that US gasoline consumption has fallen back over the past few weeks, an early warning sign regarding both the strength of consumer balance sheets and the resilience of end-user fuel demand.
Gasbuddy has the last two weeks as the highest demand yet this year. Refiners earnings commentary seems to match this. My anecdotal observations (not worth much!) from driving a lot in the Northeast also point to packed roads.