March 21 (Bloomberg) -- U.S. government statistics overstated the decline in the nation’s gasoline demand in the past year, according to the Wall Street Journal.
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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