gasoline demand still down 5% vs. 2019"Somewhere between 4% to 6% of gasoline demand has been almost permanently destroyed in the era of hybrid and remote work, RBC estimates."
well, we shall see in the next year if that holds true
but it may be difficult to say what the true cause is because of higher interest rates
40% of mortgages (including recent renewals) and over 80% of lines of credit are VARIABLE RATE meaning they are all getting hammered right now on monthly payments
i dont think the FED can pivot with inflation anywhere over 4%
peak gasoline demand ends first week of september as oil draws are softening(yes i am factoring in SPR ) already BUT it wouldnt take much of a spark to change this pattern
seeing quite a lot of earnings estimates getting lowered on sp500 but many holding the line , you gotta wonder how long the consumer can hang in there with higher rates ,no covid free money and basically no government stimulus(not counting the $trillion overspending each year ,lol as if thats not a factor in raging inflation !)