Summer Driving Season Set for Tepid Start in Blow to Oil Demand Outlook
- Traffic stays low in locked-down Shanghai; Guangzhou also dips
- U.K. road fuel sales 13% below pre-Covid levels: BEIS
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The Northern Hemisphere’s peak driving season appears set for a weak start with U.S. gasoline demand subdued amid high pump prices, U.K. fuel sales drifting lower and Chinese traffic thinned by coronavirus outbreaks.
British road fuel sales sank further below normal levels in the week ended April 17. Gasoline and diesel combined were 7% down week-on-week, largely due to the impact of the Easter bank holiday in the second half of the week.