Would berusty gasoline price in the USA (in dollars per 100 gallons) in 1 week intervals
In the week before April 11, Americans traveled 16.7 billion miles on the highway, and for the first time since the start of the pandemic, this was higher than the 2019 figure for the same time of year (+ 1%). Bloomberg writes about this with reference to data from the US Department of Transportation.
The last time Americans traveled more miles than in 2019 was in early March 2020, that is, on the eve of the World Health Organization’s announcement of the start of the coronavirus pandemic.
All this speaks of the prospects for a further recovery in gasoline demand in the country, said Bloomberg analyst Andres Guerra Lutz.
The US gasoline exchange price has more than doubled from the November 2020 lows (see chart above).
In early April, BloombergNEF reported rapid growth in US air travel and car traffic in China. The former reached a record high in a year, while the latter returned to normal historical levels.