US gasoline demand falls to six week low

US finished gasoline demand fell 859K b/d w-o-w to 8.8M b/d for the week ending 20 March, the lowest level in six weeks, EIA weekly data shows. The fall in demand was the largest w-o-w decline in six months and is a sign the measures to contain coronavirus in the US are beginning to hit demand.

Despite the fall in demand, gasoline stocks fell 1.5M barrels w-o-w to 239M barrels. Finished gasoline exports from the US rose 232K b/d, the highest weekly level for the US since mid-February.