US gasoline demand strong in 2002, other markets lag

02/10/2003
US gasoline demand in 2002 was strong, but most other petroleum product demand was dramatically lower, the American Petroleum Institute reported.API economists said overall demand for petroleum increased only 0.1% for the year. API attributed this to several factors, including: the aftermath of the Sept. 11, 2001, terrorist attacks, an unusually warm winter, price volatility, supply fluctuations from the Organization of Petroleum Exporting Countries, and a slow national economy.Gasoline was the only major petroleum product to sustain demand growth in 2002, with its strongest showing in 4 years, increasing by 2.7% compared with 2001, API said.John Felmy, API director of policy analysis and...
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