The complex interplay between the transition, policy, economic performance and consumer preferences have made it harder than ever to forecast gasoline demand.
Since then, the post-pandemic transition to a hybrid workplace has cut fuel demand for commuting.
With the difficulty of predicting where gasoline demand goes from here, the EIA has revised its forecast several times this year.
In January, it pegged demand this year at 8.74 million bpd, a fall from 8.76 million bpd last year.
JPMorgan estimates that efficiency gains and EV sales wiped around 100,000 bpd from gasoline demand last year.
Persons:
Aimee Dilger, Ciaran Healy, Healy, Joe Biden, Barack Obama, Biden, Alex Hodes, Patrick De Haan, Shariq Khan, Simon Webb, Marguerita Choy
Organizations:
REUTERS, U.S, International Energy Agency, Energy Information Administration, EIA, Reuters, IMPACT, JPMorgan, Trump, EV, Environmental Protection Agency, Reuters Graphics U.S, StoneX, Thomson
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Wilkes, Barre , Pennsylvania, U.S, Midwest, Paris, Russia, Ukraine