Gasoline demand plummets to lowest level since mid-June

Gasoline demand has reached a new low. According to the latest Energy Information Administration report, gas demand is at 8.3 million b/d — the lowest level since mid-June. As demand dropped for a second week, gasoline supply levels are down nearly 3 million bbl to 231 million bbl. While consistently decreasing week-over-week, supplies also sit at a 3 million bbl year-over-year surplus.