Weekly US Gasoline Demand Update
Gasoline demand jumps in all regions last week by 4-5%
Good morning, a fresh update on gasoline demand is here! Thanks for staying tuned- I haven't been able to update due to myriad factors but much of which is due to the current climate and being buried in work- so my apologies. As a reminder, GasBuddy data is reported by week, Sunday through Saturday, and is derived from our Pay with GasBuddy card and is measured at the dispenser- so we're talking real data, not implied, nor is this data measured in any way by GasBuddy app usage. There are no seasonal adjustments made.
According to GasBuddy data, weekly total US gasoline demand rose 4.7% last week and was 8% above the four week rolling average. Sunday saw a big boost to start the week, up 12.6% from the prior Sunday and was up 14.5% from the average of the last four Sundays, Monday saw some strength as well, up 6.3% from the prior Monday. The rest of the week (Tu-Sa) saw generally 2-4% WoW improvements to their respective day the prior week. While the previous week's data showed a 0.8% weekly decline in PADD 5, which led me to believe there may be demand destruction at play, we saw PADD 5 rebound to normal this week. It is my opinion that even at record levels, we are not yet seeing sizeable demand destruction.
However, we are seeing price sensitive motorists move away from branded and premium brands and move towards discounters and big box stores where prices are lower. Unbranded outlets have gotten a boost as well, likely because of a small price difference. For retailers/jobbers, feel free to reach out to the GasBuddy team (or me) if you're interested in offering discounts through the Pay with GasBuddy program as we see gallons migrate to lower price stations.
Broken down by PADD region, US gasoline demand changes from a week ago:
PADD 1 +5.0%
PADD 2 +4.4%
PADD 3 +4.1%
PADD 4 +4.5%
PADD 5 +4.4%
National +4.7%
Broken down by PADD region, US gasoline demand changes vs a month ago:
PADD 1 +9.2%
PADD 2 +7.0%
PADD 3 +15.0%
PADD 4 +5.6%
PADD 5 +2.6%
National +8.7%