U.S. Drivers To Cut Gasoline Use for First Time Since 2012
- Higher gasoline prices, fuel-efficient cars reduce demand
- EIA still sees total oil consumption increasing in 2018
Photographer: David Paul Morris/Bloomberg
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American motorists are poised to pump less for the first time in six years, as higher gasoline prices prompt them to adjust their driving habits.
U.S. gasoline demand is expected to fall by 10,000 barrels a day in 2018 compared to last year, according to the Energy Information Administration’s monthly Short-Term Energy Outlook. The last time annual fuel demand declined was in 2012, when pump prices neared $4 a gallon and consumption dropped by 70,000 barrels per day.