Posted on 02/14/2012 4:09:32 PM PST by Jet Jaguar
Just passed a gas station tonight and the Premium grade was at 4.17/gal.(So. Calif, Ventura County).
Gasoline drop seems stunning to me.
Thanks for the data.
Avg age of cars is now up to 10.8 years (so this drop can’t be due to impact of large numbers of new high mileage cars).
Mild USA winter would imply people are driving at least the “normal” amount.
Diesel cars/pickups don’t seem to be more of the market than they were 5 yrs ago.
Economic hardship seems like the most likely cause - in much contrast to MSM talk of “recovery”.
As long as action against Iran is put off, oil will generally rise.
To me as well. Gasoline is used mostly individuals, over commercial / industrial.
It shows a drastic change in behavior to make a drop that quick.
Note that chart is smoothed by using 4 week averages. So a major storm or the like would have a muted effect.
Together they show the drop to 8 MMBPD has been sustained for a few weeks. It has been over a decade since that was an expected level.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.