Traffic on the Long Island Expressway in New York City
Lower oil prices fuel US driving season
US gasoline consumption is at its highest level since before COVID, but while stocks remain healthy, the hurricane season threatens
After peaking at the end of the last decade, US gasoline demand has rebounded in the post-COVID era. In 2025, low oil prices are likely to support gasoline consumption despite tariffs impacting new car sales and squeezed disposable incomes. Transportation fuel supply and stocks remain ample, although meteorologists are expecting a busy hurricane season, which could mean disruptions. Overall conditions look favourable for US motorists at the start of the driving season. According to the American Automobile Association (AAA), 45.1m Americans were expected to travel for Memorial Day weekend 2025, a significant increase of 1.4m travellers compared with last year. 39.4m – Travellers over Me
Also in this section
15 August 2025
US secondary sanctions are forcing a rapid reassessment of crude buying patterns in Asia, and the implications could reshape pricing, freight and supply balances worldwide. With India holding the key to two-thirds of Russian seaborne exports, the stakes could not be higher
11 August 2025
The administration is pushing for deregulation and streamlined permitting for natural gas, while tightening requirements and stripping away subsidies from renewables
8 August 2025
The producers’ group missed its output increase target for the month and may soon face a critical test of its strategy
7 August 2025
The quick, unified and decisive strategy to return all the barrels from the hefty tranche of cuts from the eight producers involved in voluntary curbs signals a shift and sets the tone for the path ahead
