Gasoline-Demand Forecast Is Cut for This Year Amid High US Prices
- Americans are still expected to burn more this year than last
- Expensive fuel has altered driving habits for many, AAA says
This article is for subscribers only.
The US will consume less gasoline this year than previously thought, although total demand will still top 2021 levels, according to the latest government forecast.
Gasoline consumption for 2022 is now forecast at 8.83 million barrels per day, down from a previous forecast of 8.84 million, according to the Energy Information Administration’s Short-Term Energy Outlook released Tuesday. The expected drop is largely due to a 120,000 barrel a day reduction in the third-quarter demand estimate, which more than offsets a forecasted increase in the final quarter of the year.