US motorists stayed off the road during the Thanksgiving holiday in overwhelming numbers as the coronavirus surged across the country, according to the latest weekly survey of retail fuel stations by OPIS, an IHS Markit company. Gasoline sales fell 8.4% (nearly 185 million less gallons) from the previous week for the seven-day period ending 28 November, bringing consumption to the lowest level for a Thanksgiving Week in 23 years, going back to 1997. As we come out of Thanksgiving and look ahead to Christmas and the New Year, gasoline sales show that additional waves of the coronavirus are very much impacting travel decisions. We’re heading toward a 90-day period where gasoline demand gets further crimped by winter weather and post-holiday cocooning. By January, we may regularly see demand numbers not witnessed since the last century. The OPIS survey tracks actual gallons moved out of retail stations and it features […]

Posted in: USA