{"id":394225,"date":"2020-12-07T08:03:28","date_gmt":"2020-12-07T13:03:28","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=394225"},"modified":"2020-12-07T08:03:28","modified_gmt":"2020-12-07T13:03:28","slug":"thanksgiving-week-gasoline-consumption-in-the-united-states-lowest-since-1997-exclusive-opis-by-ihs-markit-survey-finds","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/thanksgiving-week-gasoline-consumption-in-the-united-states-lowest-since-1997-exclusive-opis-by-ihs-markit-survey-finds\/","title":{"rendered":"Thanksgiving Week Gasoline Consumption in the United States Lowest Since 1997, Exclusive OPIS by IHS Markit Survey Finds"},"content":{"rendered":"

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Thanksgiving Week Gasoline Consumption in the United States Lowest Since 1997, Exclusive OPIS by IHS Markit Survey Finds<\/b><\/p>\n

Demand for motor fuel plunged 19.3% compared to 2019 and may remain subpar well into 1Q 2021<\/i><\/p>\n

GAITHERSBURG, Md.–(BUSINESS WIRE<\/a>)–
\nU.S. motorists stayed off the road during the Thanksgiving holiday in overwhelming numbers as the coronavirus surged across the country, according to the latest weekly survey of retail fuel stations by OPIS, an IHS Markit (NYSE: INFO) company.\n<\/p>\n

\nGasoline sales fell a staggering 8.4% (nearly 185 million less gallons) from the previous week for the seven-day period ending November 28, bringing consumption to the lowest level for a Thanksgiving Week in 23 years, going back to 1997.\n<\/p>\n

\n\u201cAs we come out of Thanksgiving and look ahead to Christmas and the New Year, gasoline sales show that additional waves of the coronavirus are very much impacting travel decisions,\u201d said Tom Kloza, executive director, IHS Markit and a veteran analyst of North American fuel trends. \u201cWe\u2019re heading toward a 90-day period where gasoline demand gets further crimped by winter weather and post-holiday cocooning. By January, we may regularly see demand numbers not witnessed since the last century.\u201d\n<\/p>\n

\n\u201cThis unprecedented drop in gasoline demand registers caution that has gripped the nation and led many people to avoid the traditional large family Thanksgiving dinner as the virus wave smashes across the country,\u201d said Daniel Yergin, vice chairman, IHS Markit and author of The New Map. <\/i>\u201cWe likely won\u2019t see a turnaround until the wave breaks and the new vaccines are deployed.\u201d\n<\/p>\n

\nThe OPIS survey tracks actual gallons moved out of retail stations and it features sharper losses than those reported by the Energy Information Administration (EIA). EIA measures movement of gasoline from primary stocks, while the OPIS survey tracks actual weekly sales at nearly 25,000 stations.\n<\/p>\n

\nYear-on-year comparisons are even more dramatic at the regional level, with some regions seeing declines of 20% or more from Thanksgiving Week 2019.\n<\/p>\n

\nData within the OPIS report shows considerable variation across the country.\n<\/p>\n