By February 21, 2017 Read More →

US motor travel up 2.8 per cent to record in 2016: US DOT

US motor travel

US motor travel increased in December by 0.5 per cent over the previous December. 

US motor travel increased for fifth consecutive year

NEW YORK, Feb 21 (Reuters) – Motorists drove a record 3.22 trillion miles (5.2 trillion km) on US roads last year, a 2.8 per cent rise from 2015 and the fifth consecutive year of year-over-year increases, according to the US Department of Transportation on Tuesday.

Motorists logged 263.6 billion miles on US roads in December, a 0.5 per cent increase over the previous December, the DOT data showed.

Vehicle miles traveled are closely watched by energy analysts and traders, as its a good indicator of gasoline demand in a country that accounts for 10 per cent of global gasoline consumption.

US gasoline demand for 2016 is expected to be at record levels when the US Energy Information Administration releases new data later this year.

US gasoline demand is showing signs of weakness early in 2017, stoking fears that it could hamper the recovery of global crude oil prices.

(Reporting By Jarrett Renshaw; Editing by Marguerita Choy)

len webber

Posted in: News

Comments are closed.