High fuel prices softening demand for gasoline in North Amer

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High fuel prices softening demand for gasoline in North Amer Saturday, July 19, 2008
The Canadian Press -- CALGARY — It is hard to pin down exactly how big of a bite high prices are taking out of Canadian gasoline demand this summer, but it appears consumers are changing their habits as they try to cope with gasoline prices of $1.40 and higher. There's no doubt Canadians are using less fuel, said energy industry consultant Michael Ervin. "It's pretty clear that we're seeing demand for gasoline soften in North America in general," he said. A report by the American Petroleum Institute on Friday said demand for all oil products was down three per cent during the first six months of 2008, the lowest in five years. Gasoline deliveries, in particular, were down 1.7 per cent. "The decline in gasoline demand was the first significant one recorded in 17 years. Higher pump prices and a slowing economy were undoubtedly factors," said API statistics manager Ron Planting. The latest figures from Statistics Canada seem to suggest a similar trend here. A report earlier this month said
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	Saturday, July 19, 2008 The Canadian Press -- CALGARY — It is hard to pin down exactly how big of a bite high prices are taking out of Canadian gasoline demand this summer, but it appears consumers are changing their habits as they try to cope with gasoline prices of $1.40 and higher. There's no doubt Canadians are using less fuel, said energy industry consultant Michael Ervin. "It's pretty clear that we're seeing demand for gasoline soften in North America in general," he said. A report by the American Petroleum Institute on Friday said demand for all oil products was down three per cent during the first six months of 2008, the lowest in five years. Gasoline deliveries, in particular, were down 1.7 per cent. "The decline in gasoline demand was the first significant one recorded in 17 years. Higher pump prices and a slowing economy were undoubtedly factors," said API statistics manager Ron Planting. The latest figures from Statistics Canada seem to suggest a similar trend here. A report earlier this month said gasoline sales nationwide were down more than three per cent between May of this year and last. Visit The Canadian Press for full article

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ilderton Sophomore Author London Posts:186 Points:113,635 Joined:Jul 2008	Message Posted: 7/20/2008 8:01:31 AM	Ignore ilderton Report Abuse
	All but stopped buying gas other than necessity.
Matts_Pap Champion Author Pennsylvania Posts:1,282 Points:197,965 Joined:Feb 2008	Message Posted: 7/20/2008 7:31:52 AM	Ignore Matts_Pap Report Abuse
	Did anyone expect demand to increase??
Jacks45 Champion Author Michigan Posts:2,178 Points:438,975 Joined:Jul 2007	Message Posted: 7/20/2008 7:25:37 AM	Ignore Jacks45 Report Abuse
	What do they really think?, that at higher prices people are going to go out and race around town all day and take coast to coast trips like theres no tomorrow.
Zinnoil Champion Author Illinois Posts:13,174 Points:1,516,745 Joined:May 2004	Message Posted: 7/20/2008 7:13:44 AM	Ignore Zinnoil Report Abuse
	Don't need a reservation in most local restaurants anymore.
w4kh Champion Author Riverside Posts:3,665 Points:641,920 Joined:May 2004	Message Posted: 7/20/2008 7:09:48 AM	Ignore w4kh Report Abuse
	How bad can a reduced demand be? We should be trying to get away from oil completely and replace our way of driving to mass transit and efficient local vehicles... not sure I can see the NEED for a 4x4 crew cab pickup to haul the kids to soccer... If you WANT to drive that, then stop whining about high fuel costs! Maybe when gasoline finally hits $10/gallon you will change from what you want to what you need... think of all the steel that can be recycled from the Hummers and soccer Mom pickups!
deannasmum Champion Author West Virginia Posts:5,760 Points:838,855 Joined:Apr 2006	Message Posted: 7/20/2008 7:03:41 AM	Ignore deannasmum Report Abuse
	I mean after all groceries are more importatnt than gas.
MarkJM Sophomore Author Little Rock Posts:241 Points:523,295 Joined:Oct 2005	Message Posted: 7/20/2008 7:00:29 AM	Ignore MarkJM Report Abuse
	No suprise here
eddyp94 All-Star Author Ontario Posts:911 Points:228,255 Joined:Mar 2008	Message Posted: 7/20/2008 6:59:40 AM	Ignore eddyp94 Report Abuse
	Ichanged the way I drive
Lonewolftx Champion Author Houston Posts:5,719 Points:1,125,985 Joined:Sep 2005	Message Posted: 7/20/2008 6:56:39 AM	Ignore Lonewolftx Report Abuse
	No kidding , , ,
hooky Champion Author Michigan Posts:7,653 Points:816,125 Joined:Sep 2005	Message Posted: 7/20/2008 6:52:07 AM	Ignore hooky Report Abuse
	Not much!
tags610 Champion Author Lincoln Posts:2,362 Points:521,025 Joined:Nov 2005	Message Posted: 7/20/2008 6:49:05 AM	Ignore tags610 Report Abuse
	Must be a slow news day.
SUNOIL All-Star Author Toledo Posts:718 Points:401,260 Joined:Jul 2007	Message Posted: 7/20/2008 6:48:28 AM	Ignore SUNOIL Report Abuse
	Must be the only way
hategaspricesMI Sophomore Author Michigan Posts:107 Points:17,380 Joined:Apr 2008	Message Posted: 7/20/2008 6:46:06 AM	Ignore hategaspricesMI Report Abuse
	gj
FLF Champion Author South Dakota Posts:1,386 Points:434,535 Joined:Jul 2007	Message Posted: 7/20/2008 6:45:36 AM	Ignore FLF Report Abuse
	HOW BRILLIANT IS THAT?
Outie Champion Author New Brunswick Posts:1,184 Points:539,175 Joined:Oct 2005	Message Posted: 7/20/2008 6:43:21 AM	Ignore Outie Report Abuse
	I took out my bicycle this morning, I actually had fun. Felt young again.
ledoy Champion Author Dayton Posts:5,100 Points:1,034,425 Joined:Aug 2005	Message Posted: 7/20/2008 6:43:09 AM	Ignore ledoy Report Abuse
	it hurts everybody
timwil Champion Author Arkansas Posts:2,256 Points:494,080 Joined:May 2007	Message Posted: 7/20/2008 6:42:16 AM	Ignore timwil Report Abuse
	it hurts
org_elizard Champion Author Greensboro Posts:82,949 Points:1,159,500 Joined:Apr 2005	Message Posted: 7/20/2008 6:42:12 AM	Ignore org_elizard Report Abuse
	But...
bell05 Champion Author Atlanta Posts:1,157 Points:266,025 Joined:Jun 2005	Message Posted: 7/20/2008 6:40:42 AM	Ignore bell05 Report Abuse
	It hits us all.
nyuknyuk49 Champion Author Massachusetts Posts:5,421 Points:1,142,605 Joined:Mar 2005	Message Posted: 7/20/2008 6:38:56 AM	Ignore nyuknyuk49 Report Abuse
	good
hangupanddrive All-Star Author Michigan Posts:705 Points:915,960 Joined:Aug 2005	Message Posted: 7/20/2008 6:37:14 AM	Ignore hangupanddrive Report Abuse
	All but stopped buying gas other than necessity. Life starts getting boring, more like a prison than a house!
racerdj Champion Author Indianapolis Posts:1,633 Points:433,160 Joined:Jun 2003	Message Posted: 7/20/2008 6:33:49 AM	Ignore racerdj Report Abuse
	I am hopeful the good trend will continue.
papou Champion Author Tampa Posts:3,493 Points:494,220 Joined:Jul 2005	Message Posted: 7/20/2008 6:32:43 AM	Ignore papou Report Abuse
	sure thing
Cadillac Sophomore Author Greensboro Posts:223 Points:660,090 Joined:Nov 2003	Message Posted: 7/20/2008 6:28:29 AM	Ignore Cadillac Report Abuse
	"People can't afford to fill their tanks anymore, so they are putting less in it at a time." Ironically, that's the wrong approach. If you fill up frequently when prices are rising and sparingly when prices are falling, you'll spend less for gas over time.
Metroman Champion Author Philadelphia Posts:5,374 Points:1,058,880 Joined:Aug 2003	Message Posted: 7/20/2008 6:10:44 AM	Ignore Metroman Report Abuse
	People can't afford to fill their tanks anymore, so they are putting less in it at a time
Hangnail309 Veteran Author Manitoba Posts:259 Points:202,650 Joined:Aug 2006	Message Posted: 7/20/2008 6:05:38 AM	Ignore Hangnail309 Report Abuse
	Hmmm, hwat's next?
Raider44 Veteran Author Allentown Posts:427 Points:152,925 Joined:Apr 2008	Message Posted: 7/20/2008 6:03:15 AM	Ignore Raider44 Report Abuse
	With prices at this level, demand should be declining more rapidly.
Marson Champion Author Scranton Posts:1,138 Points:503,990 Joined:Oct 2006	Message Posted: 7/20/2008 5:59:00 AM	Ignore Marson Report Abuse
	Really!
fratt Champion Author Grand Rapids Posts:1,654 Points:1,024,850 Joined:Jul 2005	Message Posted: 7/20/2008 5:58:38 AM	Ignore fratt Report Abuse
	Not a surprise.
TheThing All-Star Author Quebec Posts:780 Points:192,925 Joined:Mar 2008	Message Posted: 7/20/2008 5:58:14 AM	Ignore TheThing Report Abuse
	Yesterday news
tizbowwow Champion Author Illinois Posts:1,020 Points:177,460 Joined:May 2008	Message Posted: 7/20/2008 5:52:02 AM	Ignore tizbowwow Report Abuse
	I agree olcowboy
olcowboy14 Champion Author Spokane Posts:1,465 Points:273,875 Joined:Jul 2007	Message Posted: 7/20/2008 5:49:46 AM	Ignore olcowboy14 Report Abuse
	I think if we start exploring and drilling, the prices will come down, and faster just at the thought of us becoming independant.
Pede Champion Author New Jersey Posts:1,100 Points:147,605 Joined:Apr 2007	Message Posted: 7/20/2008 5:47:30 AM	Ignore Pede Report Abuse
	Many people are faced with losing their homes how in the world does the economy think we the people can spend as much on fuel as we did before.
lpj Champion Author Georgia Posts:4,011 Points:881,565 Joined:Apr 2006	Message Posted: 7/20/2008 5:46:02 AM	Ignore lpj Report Abuse
	several months people have cut back on driving but all of a sudden the prices start to drop because of low demand !!
AvantiMick Champion Author Indiana Posts:4,955 Points:985,625 Joined:Dec 2005	Message Posted: 7/20/2008 5:46:02 AM	Ignore AvantiMick Report Abuse
	I am softened to my limit!
pepawsgirl All-Star Author Richmond Posts:675 Points:214,930 Joined:Feb 2008	Message Posted: 7/20/2008 5:44:34 AM	Ignore pepawsgirl Report Abuse
	Very Depressing
Pede Champion Author New Jersey Posts:1,100 Points:147,605 Joined:Apr 2007	Message Posted: 7/20/2008 5:43:23 AM	Ignore Pede Report Abuse
	It is a slower economy and the demand is much lower if the people do the responsible thing and slow down on spending it will force the speculators to lower the price of energy. I sure hope that they do not get the price increases in the electric as they are now trying it will be another reason to slow the economy down and it will hurt many more good citizens .
BH24 Champion Author Arkansas Posts:1,923 Points:682,610 Joined:May 2005	Message Posted: 7/20/2008 5:37:37 AM	Ignore BH24 Report Abuse
	It seems like we've heard this before. Yesterday, for example, and the day before that, and the day before that in addition to the day before that, and on an on.
rbrowdersr All-Star Author Detroit Posts:960 Points:468,950 Joined:Aug 2006	Message Posted: 7/20/2008 5:37:04 AM	Ignore rbrowdersr Report Abuse
	What will be the excuse when the prices rise?
Dipstick1 Champion Author Texas Posts:1,748 Points:830,210 Joined:Jan 2006	Message Posted: 7/20/2008 5:35:00 AM	Ignore Dipstick1 Report Abuse
	30% drop in demand is realistic and would have a real effect. But we won't do it.
mosensible Sophomore Author Los Angeles Posts:160 Points:96,355 Joined:Mar 2008	Message Posted: 7/20/2008 5:33:04 AM	Ignore mosensible Report Abuse
	I won't be impressed until half of the gas stations are closed and they're still not crowded.
DirtDigger1 Champion Author Buffalo Posts:1,837 Points:420,495 Joined:Jun 2007	Message Posted: 7/20/2008 5:30:02 AM	Ignore DirtDigger1 Report Abuse
	No, you think so.
naw62 Champion Author Maine Posts:1,246 Points:600,525 Joined:Sep 2006	Message Posted: 7/20/2008 5:29:17 AM	Ignore naw62 Report Abuse
	we have got to still cut consumtions of gas
tomok Champion Author Portland Posts:9,655 Points:720,085 Joined:Aug 2006	Message Posted: 7/20/2008 5:29:14 AM	Ignore tomok Report Abuse
	Yep! Its still works -> 'demand down - prices up.'
RocketGeek Champion Author Grand Rapids Posts:2,237 Points:490,830 Joined:May 2005	Message Posted: 7/20/2008 5:18:47 AM	Ignore RocketGeek Report Abuse
	That's not really news. Perhaps they are trying a psychological approach on the public.
jmuse All-Star Author Long Island Posts:933 Points:189,905 Joined:May 2008	Message Posted: 7/20/2008 5:17:38 AM	Ignore jmuse Report Abuse
	Leave it to the American Petroleum Institute to point out the obvious.
findcheap Champion Author Los Angeles Posts:1,423 Points:391,980 Joined:Apr 2007	Message Posted: 7/20/2008 5:15:15 AM	Ignore findcheap Report Abuse
	What did they think would happen? People would still use the same amount. And this time, this will be part of a permanent change. But China and India will eagerly buy up more.
Saturn93 Champion Author Salt Lake City Posts:1,100 Points:385,610 Joined:Oct 2006	Message Posted: 7/20/2008 4:58:18 AM	Ignore Saturn93 Report Abuse
	This is news? Must be a slow news day around the old Canadian Press.
theawesome1 All-Star Author Cleveland Posts:520 Points:174,510 Joined:Aug 2005	Message Posted: 7/20/2008 4:58:03 AM	Ignore theawesome1 Report Abuse
	What?? Gas for $1.40, I am ready to move there...... but that is Canadian liter I bet. Gas usage down 3%, that is pennies to the dollar, when we want dollars & 60% down. I use only 12 gallons a week & I drive plenty for where I want to go. That is 360 miles a week & sometimes even less, like winter after a blizzard.
ethanolbob All-Star Author Maryland Posts:548 Points:103,285 Joined:Aug 2007	Message Posted: 7/20/2008 4:43:07 AM	Ignore ethanolbob Report Abuse
	Hellooooooooo. You can only buy so much, with so much.