Daily Energy Report
US miles traveled, Exxon-Pioneer merger talk, Aramco to offer LNG, Trans Mountain on schedule, Russia lifts diesel ban, Australia LNG labor strike..again, Asia LNG trading high, and more.
Chart of the Day: Miles Traveled Increased in August, but the increase was lower than the previous August months.
The US Federal Highway Administration released August’s traffic data this morning. It shows that miles traveled increased by 0.38% in August over that of July and increased 2.4% year-over-year. Both percentages are low by historical standards.
Figure (1) above shows the trends and the relationship between miles traveled and gasoline consumption in the US.