Gasoline Production at Record Levels
Jane Van Ryan
Posted May 21, 2010
API reported today that April gasoline production climbed to 9.1 million barrels per day, which is the highest level ever for April and second highest level for any month on record, according to the Monthly Statistical Report.
Gasoline demand also rose last month, and U.S. refinery utilization climbed above 85 percent for the first time this year. API Chief Economist John Felmy said the data indicates that refiners are cognizant of consumers' need for gasoline and are producing fuel to keep America moving.
In one particularly bright spot, the April statistics showed that U.S. distillate demand surged 6.7 percent over the April 2009 level. The demand for distillates, including diesel fuel, historically has had a strong correlation with economic activity.
In April, demand for Ultra-Low Sulfur Diesel (ULSD) fuel--the fuel primarily used for the highway delivery of goods and services--increased by 3.0 percent. In 29 of the past 30 months, distillate demand had declined.
U.S. crude oil production continued near five-year highs at 5.5 million barrels a day.
For more information, the full Monthly Statistical Report news release is available on API's website.
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Update on May 26, 2010: In the video below, watch API's Chief Economist John Felmy, PhD, talk about current gasoline production and supply as Americans prepare for the summer driving season.
