American motorists press the accelerator despite oil shortfall

American motorists press the accelerator despite oil shortfall

The White House has promised 180mn barrels from emergency oil stockpiles to address a global energy supply crisis. As for reducing consumption, American drivers have not got the memo.

US oil use this year has averaged almost 21mn barrels a day over the past month, according to preliminary government statistics, up 8 per cent from a year ago and back to pre-pandemic levels. Sales of petrol, diesel and especially jet fuel are all up — and likely to go higher as the summer holidays approach.

The strong demand in the world’s largest oil consumer is an unheralded factor in the increasingly tight world petroleum market, helping to drive the price of crude above $100 a barrel.

Even with record petrol prices around the US, fuel consumers are not yet backing down.

“Yeah, it definitely is costing a heck of a lot more to drive, but you deal with it,” said Larry Williams, a motorist, as he filled the tank of his Infiniti sport-utility vehicle at a petrol station in Katy, Texas this week. He paid $3.89 a gallon, bringing the total cost to $87.02, but said he had not cut back on driving.

The International Energy Agency, a watchdog for rich countries, has urged conservation