Daily Energy Report
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Daily Energy Report
US miles traveled vs. gasoline demand, Chili’s Copper Plan, Texas wind/grid emergency, EV & Hybrid increases, Spain relies on Russian gas, UK climate goals at risk, Russian Urals decline, and more.
Chart of the Day: US Miles Traveled Increased, and so does Gasoline Demand
Summary
The US Federal Highway Administration released July’s traffic data this morning. It shows that miles traveled increased by 1.5% in July over that of June and increased 2.8% year-over-year.
Figure (1) above shows the trends between miles traveled in the US and gasoline and diesel consumption. The correlation between gasoline consumption and miles traveled is pretty strong. It remains to be seen how miles traveled in the future will be split between gasoline vehicles and electric vehicles.