Total petroleum deliveries in August moved up by 1.3% from August 2016 to average 20.5 million barrels per day. These were the highest August deliveries in 10 years, since 2007. Compared with July, total domestic petroleum deliveries, a measure of U.S. petroleum demand, decreased 0.6%. For year-to-date, total domestic petroleum deliveries moved up 1.3% compared to the same period last year.
“Strong economic growth is boosting petroleum demand,” said API director of statistics Hazem Arafa. “Meanwhile domestic production remains high allowing consumers and businesses to continue to enjoy relatively low fuel costs. This is a winning combination.”
Gasoline deliveries in August were down from the prior month, the prior year, and the prior year to date. Total motor gasoline deliveries, a measure of consumer gasoline demand, decreased 1.5% from August 2016, to average 9.5 million barrels per day–but remained the fourth highest deliveries to date.