API: US motor gasoline demand recorded 9.7 million b/d in July

Total motor gasoline deliveries, a measure of consumer demand, increased 2.4% from July 2015 to average nearly 9.7 million b/d, according to data from the American Petroleum Institute. Compared with June, total motor gasoline deliveries increased 0.3%. For year-to-date, total motor gasoline deliveries increased 2.5% compared with year-to-date 2015 to a record level just above 9.3 million b/d.

“Gasoline deliveries…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 0.8% from July 2015 to average 20.1 million b/d, marking the highest July deliveries in 9 years. Compared with June, total US petroleum deliveries increased slightly by less than 0.1%. For year-to-date, total US petroleum deliveries moved up 1.1% compared with 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 and reached its lowest output level for any month since March 2014. Crude oil production decreased 1.9% from June, and was down 10% from July 2015 to average 8.5 million b/d in July.

US total petroleum imports in July averaged just below 10.5 million b/d, up 6.8% from the prior month and up 9.9% from the prior year, but was the 4th lowest total petroleum imports for the month of July in 19 years, since 1997.

At 10.2 million b/d, gasoline production for the month of July reached its highest level for any month on record. This was up by 1.9% from the prior year, and up 1.3% from the prior month. For year-to-date, gasoline production increased by 1.9% compared to the same period last year and was the highest year-to-date on record.

Refinery gross inputs moved down 0.7% from July 2015, but remained the second highest inputs for the month of July, averaging 17.1 million b/d. Compared to June 2016, refinery gross inputs were up 1.9%.

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