U.S. demand for gasoline down 2.7% last week.

[HoosierRon]

Gasoline Demand Falls 2.7% Amid Record Prices, MasterCard Says

June 24 (Bloomberg) -- U.S. gasoline demand fell 2.7 percent last week [year to year], a sign motorists are cutting back on vacation plans as pump prices touch records, a MasterCard Inc. report today showed.

[Butz]

Demand is up else where, so don't expect prices to drop any time soon, but this is good, the less dependent on oil the better.

Ron, is this due to less driving, or is it due to biofuels? both?

[wolverine]

Originally Posted by HoosierRon

Gasoline Demand Falls 2.7% Amid Record Prices, MasterCard Says

Nothing like stating the obvious. Duh.

[Dave B]

Yes, this is true. I just read it the other day in the sunday paper . They also claim mass transit ridership is significantly increased.

But yea, China and India have growing demands. It is a global thing.

And pretty soon we'll all be back to peddeling our chubby buts off on our bicycles...... I was in Boston a week ago and just trying to avoid all the bicycles was nerve racking.

[Ach]

I'm surprised that number isn't higher.

[HoosierRon]

Originally Posted by Butz

Ron, is this due to less driving, or is it due to biofuels? both?

I assume that since Mastercard is the source of the information, what it means is demand for FUEL is down 2.7% this year. This would be gasoline, E10 and E85. So that is due to less driving. But if you look at the fact that this year more ethanol is going into the fuel than last year, the demand for gasoline would be down even more.

[FourOnTheFloor]

Good news I guess, saving gas and stuff, but driving in India and China is probably up 15% this year. Demand for gas is still greatly rising globally

[TruckMan]

Originally Posted by HoosierRon

I assume that since Mastercard is the source of the information, what it means is demand for FUEL is down 2.7% this year. This would be gasoline, E10 and E85. So that is due to less driving. But if you look at the fact that this year more ethanol is going into the fuel than last year, the demand for gasoline would be down even more.

Impressive statistics. A similar chart was discussed in a thread about California, and I asked whether this was a national or local trend. Nobody had an answer. Now we know.

[motorman]

do you think if we use less gasoline and since there will also be a reduction in govt gas tax income that the pols will not raise the taxes ? forget about paying less to drive your car as it is not going to happen. the $$$ cost per mile will continue to go up because either the price of fuel or increase in taxes.

[TruckMan]

Originally Posted by motorman

do you think if we use less gasoline and since there will also be a reduction in govt gas tax income that the pols will not raise the taxes ? forget about paying less to drive your car as it is not going to happen. the $$$ cost per mile will continue to go up because either the price of fuel or increase in taxes.

Why would you think/say something like that? Or you just trying to be negative and speculate? People blurting out lies is why half the country is running around in hysteria.

[biggerj]

Originally Posted by TruckMan

Why would you think/say something like that? Or you just trying to be negative and speculate? People blurting out lies is why half the country is running around in hysteria.

I'll see if I can dig up a few more...

Gas tax increase bringing in money
by Tom Weber, Minnesota Public Radio
June 16, 2008

St. Paul, Minn. — New numbers show the state's gas tax increase is already bringing in more money, even though Minnesotans are pumping less gas.

Published Monday June 23, 2008
Gas tax increase in Nebraska bucks trend
BY LESLIE REED
WORLD-HERALD BUREAU

As fuel prices go up, fuel consumption goes down and with it, the revenue that states use for highway maintenance. But efforts to raise gas tax rates to compensate further depresses consumption and draws hostility from taxpayers already straining to pay higher gas costs.

[gardnet1]

Well let's hope the trend continues and a sheet load of speculators get caught with their pants down.

[roteague]

It is down 15% here:

http://www.honoluluadvertiser.com/ap...=2008806250393

"The amount of gasoline sold in the state between November and March dropped 15 percent compared with a year earlier, according to an Advertiser analysis of state Department of Taxation data."

[91 s-10baja]

it's because I started riding my motorcycle to work. duh.

[Jesda]

I bet tourism in Hawaii is down 10%+, causing a decline in fuel consumption there.