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U.S. gasoline demand falls in October for first time in nearly a year -EIA
December 30, 2016 / 7:38 PM / a year ago

U.S. gasoline demand falls in October for first time in nearly a year -EIA

NEW YORK, Dec 30 (Reuters) - U.S. gasoline demand fell year-over-year for the first time in 11 months in October, according to data released on Friday by the U.S. Energy Information Administration.

Gasoline demand, which is still on pace for a record year, fell by 1.6 percent, or 150,000 barrels per day, to 9.095 million bpd in October, according to the EIA’s petroleum supply monthly report.

The last year-over-year drop was in November 2015, EIA data shows.

Despite the weaker gasoline demand, total oil demand rose in October for the third consecutive month on a year-over-year basis, according to EIA data.

U.S. oil demand in October rose by 0.6 percent, or 122,000 bpd from a year ago, to 19.62 million bpd, EIA data shows.

The growth in total oil demand was aided by stronger October distillate demand, which posted the first year-over-year increase in 11 months, EIA data shows.

Distillate demand grew by 0.2 percent, or 10,000 bpd, to 4.024 million bpd compared with last year, the data showed. (Reporting by Jarrett Renshaw; Editing by Matthew Lewis)

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