Tuesday, February 14, 2012

Gasoline Consumption Plummets

 Possibly one of the reason's for the refinery story, immediately below.
From Mish's Global Economic Trend Analysis:
Petroleum 3-Month Rolling Average Turns Sharply Lower; Negative Shipping Rates; Collapse in Global Trade
On February 6, I noted (with huge thanks to reader Tim Wallace) a Huge Plunge In Petroleum and Gasoline Usage.

Tim used weekly numbers, which show, much week-to-week volatility. Instead, I proposed using rolling three-month averages, compared to the same three months in prior years.

Today I received some updated charts that are much easier to see precisely what is happening.

Gasoline Usage Last Three Months vs. Last Three Months Prior Years

click on any chart for sharper image

Gasoline Usage by Quarter Ending December 2011