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Chart of the Day: US Miles Traveled Continue to Increase

Summary

The Federal Highway Administration released December traffic data earlier this morning. We update Figure (1) above, which shows US miles traveled vs gasoline and diesel consumption. 

It shows that miles traveled increased by 2.2% in December YoY. The seasonally adjusted data shows higher growth: 2.7%. However, miles travelled in December were lower than that of November by 0.2% Looking at 2023 as whole, miles traveled increased by 2.1% relative to that of 2022. 

EOA’s Main Takeaway