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How Low Gasoline Prices Spur Driving Demand

By Brian Milne, Editor, Schneider Electric A near vertical arc forms on the 10-year chart of vehicle miles traveled on U.S. roads recently released by the Federal Reserve Bank of St. Louis through its FRED economic data series, with U.S. vehicle miles traveled (VMT) in May at an all-time high of 3.08 trillion miles. That’s

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Low Gasoline Prices Spur Travel

Gasoline consumption rates are climbing, but what does that mean for retail prices? By Brian Milne, Editor, Schneider Electric Now that we’re in the peak driving season in the United States, early year prognostications for sharp growth in gasoline demand are under review, and preliminary data does show greater gasoline consumption as lower fuel prices

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Is Late May Surge in U.S. Gasoline Demand Sustainable?

Gas demand expected to trend higher this year. By Brian Milne, Energy Editor Schneider Electric Preliminary crude oil and gasoline data from the U.S. federal government detailed some big numbers for late May, including a spike in implied gasoline demand to the highest weekly rate in nearly eight years, while refiners and blenders produced more

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U.S. Auto Sales and Gasoline Demand

By Brian Milne, Energy Editor, Schneider Electric April marked another month of gangbuster light-vehicle auto sales in the United States, with dealers moving out an annualized seasonally adjusted 16.4 million units according to WardsAuto, the most for an April since 2005. Analysts credit low gasoline prices and borrowing costs for robust auto sales, which were

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Oil Prices and U.S. Gasoline Demand Growth

By Brian Milne, Energy Editor at Schneider Electric West Texas Intermediate crude oil futures have again nosed above $50 bbl early in the second quarter, trading at a roughly $6 bbl discount to global oil prices, with renewed discussion in the market again that oil prices have found their bottom after a better-than eight-month nosedive,

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Is RBOB Near Its Pre-Season Rally High?

By Brian Milne, Energy Editor, Schneider Electric Seasonal factors are the primary driver in lifting the gasoline futures contract on the New York Mercantile Exchange more than 60% from a multiyear low registered in January, and are the wind in the sails for a continued move higher in March. The forward curve, which shows the

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Seasonal Factors Poised to Arrest U.S. Gasoline Price Slide

By Brian Milne, Energy Editor, Schneider Electric Gasoline prices in the primary wholesale spot market in the United States rallied on the final trading day of January on a spike by oil futures triggered by a weekly report on US rig drilling activity, an attack on the Iraq city of Kirkuk by the Islamic State,

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Supply Push Driving U.S. Gasoline Demand Higher

By Brian Milne, Energy Editor, Schneider Electric In the U.S., gasoline demand was the strongest in 2014 during the final full week of the year even though historically driving demand is greatest during the summer months, with demand during the fourth quarter averaging 90,000 bpd or 0.9% more at 9.11 million bpd than the June

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Low Oil Prices and U.S. Gasoline Demand Elasticity

By Brian Milne, Energy Editor, Schneider Electric A more than 30% drop in the U.S. retail gasoline price average from the end of June to mid-December has spurred greater gasoline consumption in the U.S., with two of the three highest weekly demand rates in 2014 occurring in November and December. There have been a host

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U.S. Gasoline Demand Nosedives After Thanksgiving

By Brian Milne, Energy Editor, Schneider Electric. Preliminary data from the Energy Information Administration shows gasoline demand in the United States dropped 9.3% to a six-month low during the week following Thanksgiving Day, a busy travel holiday, tumbling from the second highest weekly rate of demand for 2014. Gasoline supplied to the primary wholesale U.S.

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U.S. Gasoline Prices Take Dive as OPEC Stands Pat

By Brian Milne, Energy Editor for Schneider Electric Far from unexpected, the Organization of the Petroleum Exporting Countries rolled over their production quota at their meeting in Vienna, Austria, during the U.S. Thanksgiving Day holiday, triggering a steep selloff in thinned down trading for crude oil and gasoline futures. The 12-member producer group at their

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U.S. Gasoline Marketers Eye Bountiful Demand Over Thanksgiving Holiday

Gasoline demand in the U.S. is expected to be robust over the Thanksgiving Day holiday, with travel projected to reach a seven-year high on a cheerier consumer smiling as retail gasoline prices hover at a four-year low. “Holiday joy has come early this year with Americans likely to pay the lowest Thanksgiving gas price since

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U.S. Gasoline—Another Psychological Barrier Breached

By Brian Milne, Energy Editor, Schneider Electric Refining units returning from seasonal maintenance, notably along the heavy concentration of processing capacity along the U.S. Gulf Coast, during the first week of November sparked another leg down in the gasoline futures contract traded on the New York Mercantile Exchange that broke below psychological support at $2

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U.S. Gasoline Demand Pops As Retail Prices Break Below $3 Gallon

By Brian Milne, Energy Editor, Schneider Electric For the first time since late 2010, the U.S. retail gasoline price average for regular grade slipped below $3 gallon, with the Energy Information Administration reporting a $2.99 gallon average on Nov. 3 in its weekly survey. The average has more downside, with lower wholesale costs still working

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Diesel Demand In U.S. Seen Sliding Despite Climbing LDV Sales

By Brian Milne, energy editor, Schneider Electric The U.S. consumer’s past aversion to diesel operated light duty vehicles is subsiding as evidenced by rising vehicle sales and a broader offering of models by auto manufacturers. Despite this evolution, domestic diesel demand is expected to trend lower in 2017 and thereafter, as heavy duty vehicles increasingly

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U.S. Gasoline Futures Finds Bottom

By Brian Milne, Energy Editor, Schneider Electric The freefall in New York Mercantile Exchange (NYMEX) traded gasoline futures looks to have been arrested, halted near long-term support at $2.1354 gallon after nose diving 62.3 cents or 23% from a late September high to mid-October low. Retail prices have more downside. NYMEX Reformulated Blendstock for Oxygenate

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Gasoline Prices Sink as Bear Market Firms Grip

By Brian Milne, Energy Editor for Schneider Electric Gasoline futures traded on the New York Mercantile Exchange are down nearly 30% from their June high to Oct. 10, and possibly more stunning have erased 19.3% of their value in 11 days from the late September high while the U.S. retail average for gasoline is down

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Rethinking Oil Demand Expectations

By Brian Milne, Energy Editor at Schneider Electric The outlook for global oil demand suddenly got gloomy, with the futures markets for crude, gasoline and diesel selling off hard in ushering in the fourth quarter, as market participants raced to the exits, unloading long positions. A tenth of a penny increase in the U.S. retail

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Gasoline’s Whipsaw Trade in Oversold Market

By Brian Milne, Energy Editor, Schneider Electric The gasoline futures contract nearest to physical delivery traded in a more than 25cts gallon range in September with little less than two days of trade for the month remaining, which included sharp daily reversals in what is known as whipsaw price action late in the month ahead

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Road to Lower U.S. Gasoline Prices To Take Brief Detour

By Brian Milne, Energy Editor for Schneider Electric. The U.S. gasoline futures contract dropped to a fresh low for 2014 mid-September that coincided with the shift away from summer specification gasoline to easier to manufacture fuel while the national average price for retail gasoline sunk to a seven-month low. The national average is down 5.1cts

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Dropping Like a Rock—Beware of Falling Gasoline Prices

By Brian Milne, Energy Editor for Schneider Electric Just under $2.50 gallon is where the U.S. gasoline futures market found support during the second week of September amid a massive selloff in domestic and global crude oil prices, with lower trending oil battered by bearish readings for forward oil demand by the three major forecasters.

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Holiday Boosts Downstream Gasoline Deliveries

By Brian Milne, Energy Editor for Schneider Electric The U.S. average price for regular grade gasoline sold at retail outlets across the country edged up 0.5cts to $3.459 gallon on Labor Day according to the Energy Information Administration’s weekly survey, with the increase the first in 10 weeks. The slightly higher retail average came alongside

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“Take Two” for U.S. Gasoline Demand

By Brian Milne, Energy Editor for Schneider Electric. A month in front of the Labor Day holiday in the U.S., the unofficial end of the peak summer driving season, gasoline demand spiked from what has been lackluster consumption this summer, with preliminary data showing a surge in demand to the highest weekly rate so far

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U.S. Gasoline Demand Disappoints this Summer

By Brian Milne, energy editor for Schneider Electric. What looked like a recovery for U.S. gasoline demand during the second quarter fizzled this summer, with demand continuing to slip below the year-ago pace and the five-year average since mid-June with the exception of one week. In the United States, driving demand is highest during the

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Early Season Pop in US Gasoline Demand Fades

By Brian Milne, energy editor for Schneider Electric. In the futures market for U.S. oil products, the gasoline contract has taken a backseat to Ultra-low Sulfur Diesel futures, with the ULSD contract used in hedging winter fuels, among other benchmarking uses. The transition away from interest in gasoline during its peak consumption season comes as

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