Falling Fuel

For the week ending 4/17/20, US petroleum demand averaged 14.1 million bbl/day, down 31% from the 2020 average through 3/13/20 before travel restrictions began. The 14.1 million bbl/day level is up slightly from 13.8 million bbl/day the previous week; the lowest weekly average level since the early 1990s. Demand for motor fuel has fallen 40%, jet fuel dropped 62%, and diesel fuel demand, dominated by trucking, has slipped just 20%.