U.S. Fuel Use Slid in August as Oil Output Rose, API Says
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U.S. fuel consumption slipped in August as crude-oil production surged to the highest level for the month in 25 years, the American Petroleum Institute said.
Total deliveries of petroleum products, a measure of demand, slipped 0.7 percent from a year earlier to 19.1 million barrels a day, the industry-funded group said today. It was the lowest level for August since 2009. Year-to-date consumption has averaged 18.7 million barrels a day, up 0.4 percent from 2012.