Gasoline demand in a “Goldilocks” scenario
By Rhiannon Branch, Brownfield
June 3, 2021
An ag economist is comparing gasoline demand to the Goldilocks fairytale as it goes from one extreme to the other looking for that “just right” spot.
David Widmar with Ag Economic Insights tells Brownfield last year during the height of the pandemic demand was very low and has now picked up to normal pace. But he would not be surprised to see pent up demand for gasoline in the summer months as more people feel safe to travel.
“If we get to 9.5 million barrels per day we are getting back to normal. If we get above 10 million barrels per day, we might be setting new highs.”
He says there was also a whip-lash effect as gas prices nearly doubled in the last year, but current prices are not off trend...
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