Fuel demand falls 3% in first half
From Times Wire Services
U.S. fuel consumption fell 3% in the first half of 2008, the biggest decline for the period in 17 years, as high prices and a slowing economy curbed demand, an oil industry report showed.
Deliveries of petroleum products declined to an average 20.08 million barrels a day through June, the American Petroleum Institute said. Gasoline deliveries fell 1.7%, the first “significant” decline in 17 years.
Fuel demand fell as prices for crude oil, gasoline and heating oil futures reached records. The higher prices helped send the U.S. economy to its weakest six months of growth in five years, according to the Commerce Department.
