Economics
Gasoline Consumption in U.S. Rises Most in Nearly Four Decades
- Low fuel prices and stronger economic growth spur more driving
- Exxon Mobil says global gasoline demand is `relatively strong'
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U.S. gasoline demand rose at the fastest annual rate in almost 40 years in February as stronger economic growth and cheap fuel prices spur driving in the world’s biggest oil consumer.
The Energy Information Administration said late on Friday that U.S. gasoline demand rose to 9.2 million barrels in February, up 556,000 barrels a day from a year earlier and the biggest annual increase since May 1978.