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Gasoline deliveries in July were highest on record

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  • Gasoline deliveries in July were highest on record

    Total motor gasoline deliveries, a measure of consumer gasoline demand, moved up 2.4 percent from July 2015, to
    average nearly 9.7 million barrels per day. Compared with June 2016, total motor gasoline deliveries increased 0.3
    percent. For year-to-date, total motor gasoline deliveries increased 2.5 percent compared with year-to-date 2015 to a
    record level just above 9.3 million barrels per day.“Gasoline deliveries, a measure of consumer demand, hit their
    highest level on record in July,” said Erica Bowman, API chief economist. “With this indication of increased demand, it’s
    clear that consumers have continued to benefit from lower gasoline prices at the pump.” Total petroleum deliveries in
    July moved up by 0.8 percent from July 2015 to average 20.1 million barrels per day. These were the highest July
    deliveries in nine years, since 2007. Compared with June, total domestic petroleum deliveries, a measure of U.S.
    petroleum demand, increased slightly by less than 0.1 percent. For year-to-date, total domestic petroleum deliveries
    moved up 1.1 percent compared to the same period last year.Crude oil production was down from the prior month,

    the prior year, and the prior year-to-date as production continued to slow down and reached its lowest output level for
    any month since March 2014. Crude oil production decreased 1.9 percent from June, and was down 10.0 percent from
    July 2015 to average 8.5 million barrels per day in July U.S. total petroleum imports in July averaged just below 10.5
    million barrels per day, up 6.8 percent from the prior month and up 9.9 percent from the prior year, but was the fourth
    lowest total petroleum imports for the month of July in 19 years, since 1997. At 10.2 million barrels per day, gasoline
    production for the month of July reached its highest level for any month on record. This was up by 1.9 percent from
    the prior year, and up 1.3 percent from the prior month. For year-to-date, gasoline production increased by 1.9
    percent compared to the same period last year and was the highest year-to-date on record.Refinery gross inputs
    moved down 0.7 percent from July 2015, but remained the second highest inputs for the month of July, averaging
    17.1 million barrels per day. Compared to June 2016, refinery gross inputs were up 1.9 percent.API is the only national
    trade association representing all facets of the oil and natural gas industry, which supports 9.8 million U.S. jobs and 8
    percent of the U.S. economy. API’s more than 650 members include large integrated companies, as well as exploration
    and production, refining, marketing, pipeline, and marine businesses, and service and supply firms. They provide most
    of the nation’s energy and are backed by a growing grassroots movement of more than 30 million Americans. For
    more information, please visit: http://www.api.org
    The truth is incontrovertible, malice may attack it, ignorance may deride it, but in the end; there it is.” Winston Churchill
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