Big difference compared to high-demand 2007 is today’s lower prices
by Myra P. Saefong
Market Watch
The latest weekly decline in U.S. gasoline supplies wasn’t a surprise, but the strength in demand for the fuel at this time of the year is a shocker.
That means that even if pump prices nose higher by Memorial Day as some predict, stronger-than-usual driving demand could help sop up some of the excess domestic crude supplies.
“The last few weeks with impressive gasoline demand could be a harbinger of what’s to come for the summer-driving season,” said Patrick DeHaan, senior petroleum analyst at GasBuddy.com.