U.S. oil demand rose 3% in October from a year earlier, hitting the highest level since August 2011, government data released Monday show. At 19.273 million barrels a day, demand was its highest for the month since 2008. Demand for gasoline, the most widely used petroleum product in the world’s biggest oil consumer, rose 1.4%, or 120,000 barrels a day, to a three-year October high of 8.821 million barrels a day. The strength in gasoline demand came as the average price of regular gasoline at the pump in October was $3.344 a gallon, down 40.2 cents from a year earlier, EIA data show. Demand for ultra-low sulfur diesel fuel in October averaged 3.929 million barrels a day, up 4.8% from a year earlier. Demand for the fuel that powers trucks and trains and is used as heating oil […]

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