Fuel Tracker

Many oil market analysts are focusing attention on the recent drop in oil demand. Current demand is well below the levels of a year ago. It’s unclear at this point, however, as to whether this is a sign of permanent demand reductions or simply a fluctuation in the market. Reports from the Energy Information Administration on past oil demand are generated from the amount of petroleum supplied, not the amount requested, and therefore might not be a totally accurate barometer of movement in the oil market. The U.S. average for gasoline per gallon was $2.73 as of Oct. 17, up 12 cents from Oct. 10. The price of crude oil per barrel was $62.61 as of Oct. 14, up 80 cents from Oct. 7.