Sunday, May 3, 2009

A quick look at gas and miles travelled

Having missed both This Week in Petroleum, and the monthly release of miles driven, I thought I would just pop these up. Partially because we are seeing a slight pickup in miles driven, in parts of the country, which slowed the drop. (But bear in mind that this plot includes information only up through February.

February miles travelled

Let me just look in more detail at the end of the graph.

Top part of the Curve showing the change in slope.

If we look up at the top, the declining slope of the line is beginning to turn up, a little. When we contrast this with the data from TWIP on gasoline demand, one can see that this is remaining sensibly flat.

(Source EIA)
While the historic pickup that usually applies from April through June is not evident, the slope does appear, if anything, a little positive. But it remains early to make predictions, or do anything much beyond remaining optimistic.

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