Driving trends and gasoline and diesel consumption are among the biggest factors propelling the price… Surging demand from drivers in the richest countries helped power a big rally in crude this year. But many analysts say that surge is ending. In the U.S., lower gasoline prices led consumers to drive a record three trillion miles in the past 12 months. In June, gas consumption hit an all-time high, 9.7 million barrels a day. And in July, pickup trucks, SUVs and other gas guzzlers reached a record share of auto sales. Yet as the summer-driving season ends, low fuel prices may not be enough to entice consumers to pump in more gasoline. More broadly, economic growth isn’t strong enough in the U.S. and Europe to produce the necessary increase in jobs or new manufacturing that would spur large, long-term increases in oil demand. Most of the world’s oil gets processed […]