Gasoline Use Hits Year-to-Date High as US Driving Season Starts
Fuel demand still trails pre-pandemic levels as pump prices soar to record highs.
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The US driving season kicked off with the highest year-to-date gasoline demand, but record prices at the pump are preventing a return to pre-pandemic norms.
Americans hit the road over the Memorial Day weekend, consuming 9.2 million barrels a day of gasoline in the process and bringing the best available gauge for short-term demand to its highest level since December, according to the Energy Information Administration. Gasoline demand is still down by around 1% from the same time last year and nearly 6% from the same time in 2019.