Stay-at-home orders have driven U.S consumption of gasoline and other fuels to the lowest level in decades.

Over the last three weeks, demand for petroleum products has averaged 14.1 million bbl/d, according to the Energy Information Administration’s (EIA) “Weekly Petroleum Status Report.” Changes in the weeks since then have been more muted, suggesting that consumption is stabilizing at around 14 million bbl/d.

According to IHS Markit, gasoline consumption has declined the most in absolute terms. January-March 2020 gasoline demand averaged 8.9 million bbl/d and since then, gasoline product supplied has fallen by 40% to 5.3 million bbl/d as of the week ending April 17.

U.S. consumption of jet fuel experienced the largest drop in relative terms, declining by 62% to just 612,000 bbl/d on April 17 from a pre-shutdown average of 1.6 million bbl/d.

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