As prices have surged, demand for gasoline has dropped, but diesel demand is on the rise, a mid-year review by the American Petroleum Institute (ADI) reports. According to landlinemag.com, API says demand for refined product -- measured as deliveries from the primary distribution system of refineries, bulk terminals and pipelines -- was down 1.3% the first half of 2006 when compared to 2005. The exception was on-highway diesel, where demand actually increased as the volume of goods transported to consumers by truck increased.
Overall stocks of crude oil are up 3.2% from levels in 2005. Stocks of distillate fuel oil (used to make diesel) are up 8.6% from 2005.
Refined oil imports were up more than 12% the first half of 2006 as more product was brought in to fill supply gaps left by refiners still struggling from damage by Hurricane Katrina in 2005, Land Line says.
-- Joe Roybal