Gasoline consumption through week of 1-27-2023

Gasoline prices were (per AAA) were up 2¢ this week, to $3.50. A year ago, the price was $3.38. There was a bit of good news, as prices seem to have plateaued. 

Not sure how long that will last, although inventories are up and refinery output did slightly increase.

The however... is right on cue, as the seasonal consumption is edging up. (This is a four week moving average).

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If you are really into this type of thing... the import/export surplus of gasoline since last March 1st, stands at 89.1M barrels. 3M of those barrels coming in the week leading up to this report.