U.S. petroleum demand increased to 20.8 million b/d in August, which was up 250,000 b/d from July, according to the latest monthly statistics from the American Petroleum Institute.
Petroleum demand averaged 20.3 million b/d year-to-date through August, which was an increase of nearly 500,000 b/d over the same period last year, according to theOil & Gas Journal.
Consumer gasoline demand was 9.7 million b/d in August, which was .8 percent below that of August 2017. However, it was still the third-highest demand for the month of August since 1945.
The average price of regular-grade gasoline was $2.91/gal in August, which was down by 1.4¢/gal from July, but up by 42¢/gal compared with August 2017 and 63¢/gal vs. August 2016.