We can observe two patterns in the gasoline consumption fluctuations:
- A year-to-year steady rise that can be fairly modeled by a linear trend (the estimated slope is 143.4 kbpd/year) as shown on Fig. 2;
- an intra-year seasonal fluctuations (i.e. higher consumption in the summer);
Once the linear trend is removed (Fig. 3), it's then easier to deal with the seasonal pattern.
So far, the gasoline consumption levels don't seem to be out of the range of what have been observed in the past despite being below the average consumption for that time of the year. Notice also how significant was the big drop in consumption last year after the hurricanes Katrina and Rita.
peak+oil gas+prices oil+production oil gasoline+consumption