Summer Driving Season Off to a Slow Start

Summer Driving Season Off to a Slow Start
The U.S. summer driving season is off to a slow start.

The U.S. summer driving season is off to a slow start, according to a new market note from energy and environmental geo-analytics company Kayrros.

“While passenger road transportation has been rising seasonally since Memorial Day weekend in late May, the levels of activity have now slipped below last year consistently since June 2, Kayrros data show,” Kayrros stated in the note, which was sent to Rigzone recently.

“On average, gasoline use in June fell by 2.6 percent year-on-year but remained 16.5 percent above 2020 (Covid-19) levels and 3.5 percent above 2019 (pre-Covid),” Kayrros added.

According to a graph outlining on-road gasoline consumption in the U.S., which was included in the note and which included data stretching back to 2019, demand hit a peak around August 2021 and a low point around April 2020.

The latest data on U.S. diesel use suggests commercial road transportation activity has so far remained more impervious to high prices at the pump, Kayrros said in the note.

“Despite recent reports that online shopping and carrier activity are starting to feel the heat from the return of inflation, this has yet to affect actual end-user diesel burn in a big way,” Kayrros stated.

According to a graph outlining on-road diesel consumption in the U.S., which was also included in the note and which also included data stretching back to 2019, demand in 2022 has mostly been above 2021 figures.

As of July 6, the average price of regular gasoline in the U.S. is $4.779 per gallon, according to the AAA gas prices website. Yesterday’s average was $4.800 per gallon, the week ago average was $4.868 per gallon, the month ago average was $4.865 per gallon and the year ago average was $3.134 per gallon, the AAA site showed. The highest recorded average price for regular gasoline was seen on June 14 at $5.016 per gallon, according to the site.

Average diesel prices in the U.S. as of July 6 came in at $5.716 per gallon, the AAA site showed. Yesterday’s average was $5.726 per gallon, the week ago average was $5.780 per gallon, the month ago average was $5.645 per gallon and the year ago average was $3.250 per gallon, according to the AAA site, which outlined that the highest recorded average price of diesel was seen on June 19 at $5.816 per gallon.

To contact the author, email andreas.exarheas@rigzone.com


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