Commodities
US Dependence on Foreign Gasoline Weakens With Imports Plunging
- Shipments to US are on track to reach lowest in seven years
- The decline hurts profitability for fuelmakers in Europe
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The US is the world’s biggest gasoline guzzler and has historically relied on imports to help meet some of that demand. Now, the dependence on foreign supplies is quickly falling as the country’s fuel makers hum along.
The nation is on track to import close to 318,000 barrels a day of gasoline and blending components this month. That would be the lowest in figures going back to January 2017, according to data intelligence firm Kpler. US imports are set to fall for the sixth consecutive month.