RE:RE:RE:RE:My undisciplined trading going to cost me
I think that number was from 2 weeks ago. There are so many numbers in the reports, it can be tough to figure out the meaning.
EIA talks about gasoline as being price inelastic. When I think about how I respond to gasoline prices - well, I don't really think about them that much other than yeah (lower) or grrrh (higher). Mentally, as long as gasoline stayed below $ 2 per litre, my attitude was whatever. I am sure if you have long commutes, it affects what you do, but I don't. With lower gasoline prices, I may go on longer trips this summer, but most people no longer want to go on a Sunday drive (or at least I don't).
I could see jet fuel usage go up - assuming our airlines pass on the fuel savings.
I wasn't sure if that number could have been affected by exports, though I did see that the US imports gasoline as well. I recall eastern refineries used to use Venezuela crude as it was easier and cheaper to get than say oil sand production.