This Key Data Points At Strong U.S. Oil Demand

11 Oct 2017   USA

Gasoline prices haven’t gone up high enough in the U.S. to have any real impact on car buyers choosing more fuel-efficient vehicles. A university study reports that fuel economy in new vehicle purchases is staying flat this year. Average fuel economy (window-sticker value) of new vehicles sold in the U.S. was 25.3 mpg in September , according to University of Michigan’s Transportation Research Institute. It was unchanged from August and below the 25.5 mpg peak reached in August 2014. Average fuel economy for September has gone up 5.2 mpg since October 2007, the first month of the monitoring in the study led by the University of Michigan’s Brandon Schoettle and Michael Sivak. Gasoline and diesel prices have been affected by Hurricane Harvey and may see a similar trend coming from Hurricane Nate. Pump prices went up in late August and early September as Harvey impacted refineries, and caused a […]

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