As U.S. national gas prices rise, a gauge of gasoline demand, weekly gasoline supplied, dropped heading into July. This is a period where demand tends to pick up as summer travel and 4th of July activities take place
The green line shows U.S. weekly gasoline supplied for 2022, the dotted white line is the 5-year average. This visual guidance shows how this year's demand has detached from its seasonal patterns
The latest figures from the EIA showed 8.922K bpd vs its 5-year average of 9.357K bpd at this same time of the year
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