U.S. Demand for Oil Falls 2.8%

Oil demand in the United States, the largest oil-consuming nation, declined 2.8% in June and shrank 2.2% for the first six months of the year, the American Petroleum Institute reported today.

Demand for gasoline, which accounts for almost half of America’s daily oil use, fell 1.2% last month. Demand for unleaded fuel, which commands more than 64% of the domestic gasoline market, jumped 7.3% in June but deliveries of unleaded gasoline plummeted 13.7%.