U.S. Gasoline Data May Not Reflect Consumption Levels, WSJ Says
The Energy Information Administration uses export and production figures to calculate demand figures and last year underestimated the volume of fuel shipped overseas, the newspaper reported, citing Robert Merriam, who oversees the weekly Petroleum Status Report.
The 7 percent drop in demand from a year ago is “closer to 4 percent,” Merriam is cited as saying in the report dated yesterday.
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