Energy Literacy Advocates Newsroom
US Demand for Gasoline is Down
Thursday, August 13, 2009
The Department of Energy reports that US demand for gasoline is down 8.2%, as compared to this time last year. Overall the DOE report predicted a 2.7% decline in demand for oil.
The price of oil, which has stabilized around $70 per barrel, fell slightly after government reports showing continued loss of jobs and lower than expected retail sales. However, many analysts forecast that oil will be a prime commodity as the economy revives, and its price could jump quickly.
For more analysis, click here.
The price of oil, which has stabilized around $70 per barrel, fell slightly after government reports showing continued loss of jobs and lower than expected retail sales. However, many analysts forecast that oil will be a prime commodity as the economy revives, and its price could jump quickly.
For more analysis, click here.
Labels: economy, oil price, oil supply/demand
posted by
Amanda Voss
at
12:45 PM
0 Comments:
Post a Comment
<< Home