24 Apr '11, 1am

API: U.S. demand for gas surges in March

API: U.S. demand for gas surges in March

Petroleum demand surges in March, first quarter: API WASHINGTON, April 21, 2011 – Steadily rising fuel costs during the first quarter of 2011 appear to have had little impact on total U.S. petroleum deliveries (a measure of demand). First quarter deliveries rose by 5.5 percent compared with the first quarter in 2010, led by a 7.3 percent surge in March 2011 (to 20.5 million barrels per day) over the same month in 2010. "Strong deliveries continue to indicate growth in the economy," said API chief economist John Felmy. "The increase is consistent with expansion in the manufacturing sector reported by the government, although that was relatively modest. The increase is especially significant given the potentially depressing effect of rising prices on fuel demand and amid some prognostications that forward growth in the economy may be more modest than hoped." For the first qu...

Full article: http://green.autoblog.com/2011/04/23/api-u-s-demand-for-g...

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