Demand for Gasoline Is Plummeting All Over the World
- Sliding fuel sales pinch refiners, truck stop operators
- U.S. demand drop echoes decline seen in Spain, Italy
Morning commute traffic drives westward on the San Francisco – Oakland Bay Bridge in San Francisco, California, on March 18.
Photographer: David Paul Morris/BloombergThis article is for subscribers only.
U.S. gasoline demand has collapsed as stay-at-home orders keep drivers off the road, following the pattern seen in the hardest-hit parts of Europe.
Sales at retail stations were down 46.6% from a year earlier in the week ending March 28, according to a report from OPIS by IHS Markit. The average station sold about 11,000 gallons -- less than two tanker trucks’ worth.