API: July gasoline deliveries indicate surging consumer demand

The American Petroleum Institute (API) recently released figures for July 2016 that indicated total gasoline deliveries averaged nearly 9.7 million barrels per day, up 2.4 percent from July 2015, and year-to-date total motor gasoline deliveries hit a record-high average of 9.3 million barrels per day.

“Gasoline deliveries, a measure of consumer demand, hit their highest level on record in July,” API Chief Economist Erica Bowman said. “With this indication of increased demand, it’s clear that consumers have continued to benefit from lower gasoline prices at the pump.”

Total motor gasoline deliveries for July showed a 0.3 percent increase over June and a 2.5 percent increase over July 2015’s year-to-date total. Total petroleum deliveries showed a corresponding increase, with July 2016 boasting an average of 20.1 million barrels per day, a 0.8 increase from July 2015. Total domestic petroleum deliveries increased by 1.1 percent when considered as a year-to-date average compared with the same period in 2015.

In the same set of statistics, API reported that crude oil production is continuing a downward trend, with the July 2016 average of 8.5 million barrels per day representing a 1.9 percent decrease from June and a 10 percent decrease from July 2015.